John J. Frank Jr. , who will be inducted as a Great Living Cincinnatian in February 2019 by the Cincinnati USA Regional Chamber. “I will never lose my passion for helping others,” says Frank of his lifelong commitment to the multiple philanthropic causes he holds dear, including child poverty, diversity and inclusion and mental health. Frank’s passion for service was sparked by his father, John J. Frank, who continuously motivated him to volunteer for different organizations, as well as his maternal grandmother, Florence Rosenthal, who worked as the director of a home for mentally ill children. After graduating from Harvard in 1954 and serving as a special agent for the U.S. Army Counter Intelligence Corps, Frank returned to Cincinnati to join the family business and start a career in the commercial real estate industry a few years later. Frank has two sons, a stepson, a stepdaughter and 10 grandchildren. He has been [...]
The region’s top commercial real estate professionals honored their own Thursday night at the annual NAIOP Night of the Stars dinner. Office Deal of the Year — The Offices at Vernon Place sale, Mike Sullivan and Tom Powers with Cushman & Wakefield sold the redeveloped Vernon Manor and a new adjacent office building, both of which are leased to Cincinnati Children’s Hospital, to 90 North Partners for $75 million. Retail Deal of the Year — The Shoppes of Anderson Towne Center, a two-building retail center. KZF Design provided architecture, urban design, mechanical, electrical, plumbing and structural engineering. The development includes space for gatherings, music and patio space, as well as a quieter plaza on the interior of the site. Terry Ohnmeis with Cushman & Wakefield lists the property.
Deal of the week Property name: 5242-5252- Rialto Road Buyer: Westbelt Realty LLC Seller: Rialto Real Estate Partners LLC Listing broker, firm: Mike Sullivan and Ben McNab, Cushman & Wakefield Buyer’s broker, firm: N/A Price: $1.9 million Deal closed: Oct. 10, 2018 Description of property: A 28,200-square-foot multi-tenant office/warehouse building Address: 5242-5252 Rialto Road, West Chester Township 45069 Behind the deal: The regional private investor acquired the 10-year-old, tilt-up office/warehouse property to add to its Ohio industrial holdings.
The Strietmann Center, a redeveloped historic structure in Over-the-Rhine, has added an office tenant that will take the entire top floor of the building. Saatchi & Saatchi X, a shopper marketing agency, has signed a long-term lease for the entire sixth floor of the building. Saatchi & Saatchi X will be relocating from Blue Ash to the building at 235 W. 12th St. in early 2019. Blake Bartley, senior real estate executive with Urban Fast Forward, represented Saatchi & Saatchi X in the lease, while Scott Abernethy, senior director with Cushman & Wakefield, represented Strietmann Center owner Grandin Properties. Read more...
A fast-growing hospice care provider is moving its offices to Deerfield Township. Queen City Hospice Holdings LLC, which is currently based in Sycamore Township, is moving its headquarters to Governor’s Pointe Office Park. The company signed a five-year lease for 11,443 square feet of space at 4605 Duke Drive. View Article
A long-planned 135-acre industrial park is scheduled to begin construction later this fall. A joint venture between developer Strategic Capital Partners LLC and real estate finance firm PCCP LLC has purchased the former Hidden Creek at GE Park golf course from an affiliate of Viking Partners for $5.6 million. View Article
Hamilton County taps real estate experts for $53 million crime lab http://www.bizjournals.com/cincinnati/news/2017/01/23/hamilton-county-taps-real-estate-experts-for-53.html Hamilton County has tapped Cushman & Wakefield to help develop and build a new crime lab. Hamilton County Administrator Jeff Aluotto said the county is working with Cushman & Wakefield’s office tenant advisory group as a real estate consultant. The team is assisting with due diligence, site possibilities, constructibility analysis and supplementing the county’s staff where needed as well as overseeing the design and build process. The current crime lab and morgue is located at 3159 Eden Ave. in Corryville. That facility is cramped and outdated. At one point, the county studied moving the crime lab and morgue to the former Mercy Health Hospital in Mount Airy but decided the facility would be too expensive to renovate and maintain. The county is focused on a property in Blue Ash for the new facility at this point, an 11-acre [...]
A Tennessee-based hotel company purchased a downtown Cincinnati office building with plans to convert it into a hotel. Vision Hospitality Group purchased the Jeweler’s Exchange Building, located just west of Macy’s Inc.’s headquarters at 37 W. Seventh St., for $2.4 million. Drew Hibbard, vice president of finance and investments for Vision Hospitality, said the company is still finalizing its plan for the 60,000-square-foot building but it expects to convert it to a hotel. Jim O’Connell, Don Murphy and Mike Sullivan of Cushman & Wakefield represented the seller, Fifty-One Co. Ltd., in the sale. Sullivan, senior vice president with Cushman & Wakefield, said the sale is another example of older class B and C office buildings being converted to a new use. “Interest in downtown Cincinnati remains high,” Sullivan told me. Click Here to Read More
CINCINNATI, July 8, 2016 – Cushman & Wakefield announced today that Hank Davis has joined the firm as an Investment Sales Broker focusing on the sale of retail properties in Cincinnati. He will partner with the Capital Markets team of Tom Powers, Jim O’Connell and Mike Sullivan. Mr. Powers, Mr. O'Connell and Mr. Sullivan have been consistent market leaders in the sale of office and industrial properties with $7.4 billion in closed transactions over the course of their 25-year partnership and over $700 million closed in the past two years. Click Here to Read More
Office Market Sees Lowest Vacancy Rate since 2009, Reports Cushman & Wakefield CINCINNATI, July 7, 2016 – Cushman & Wakefield announced today that the Cincinnati industrial market continued its strong performance in the second quarter, and has now posted 20 consecutive quarters of positive net absorption. “The big question in Cincinnati real estate through the end of the year is whether major occupiers will materialize for the nearly 2.5 million square feet of bulk industrial space scheduled to be completed,” said Doug Bolton, Managing Principal for Cushman & Wakefield in Cincinnati-Dayton. “Short of some major new-to-town occupiers, the industrial vacancy rate and absorption numbers may turn slightly softer for the first time in at least five years. But there is as good of a chance that absorption remains strong and on pace.” Click Here to Read More