Neyer Properties Inc., one of the largest and most active commercial real estate companies in Greater Cincinnati, relisted all of its urban core office properties with one commercial real estate firm. Evanston-based Neyer Properties selected the Cushman & Wakefield team of Scott Abernethy, Digger Daley and Michelle Klingenberg as the leasing agents for its Central Business District, Queensgate and Walnut Hills office buildings. Daley, director with Cushman & Wakefield, said they had worked on two of Neyer Properties' urban office buildings for a number of years. After Neyer Properties saw success by moving to one commercial real estate firm for its Blue Ash office portfolio, the company wanted to replicate that in the Central Business District and surrounding areas. Cushman & Wakefield started marketing the entire CBD and surrounding portfolio at the beginning of March.
One of the largest logistics firms in Greater Cincinnati has purchased a building in downtown Cincinnati for its headquarters. Stett Transportation, which is currently based in Fort Mitchell, purchased the building at 110 E. Eighth St. from Brett Goodson for $505,000. Lynn Anstett, founder and CEO of Stett Transportation, said the company had outgrown its current space. Anstett wanted to move the company to the Central Business District because she lives downtown and was attracted to the other investment taking place in the core. Anstett plans to modernize and update the building. She is working with Furlong Building Enterprise on the renovations, which will include knocking down walls, raising the ceilings, exposing duct work and making a more creative and open space. In total, Anstett said the move will be an investment of about $1 million. Digger Daley, director with Cushman & Wakefield, represented the seller. Read the full article here. [...]
Two new tenants are coming to the Banks development on downtown Cincinnati’s riverfront. Planet Fitness and Smoothie King are expected to open on Second Street in May 2019. Planet Fitness, one of the largest and fastest-growing franchisors in the U.S., will open in 14,513 square feet adjacent to the 1,530-square-foot Smoothie King location. Emily Bevis of Jeffrey R. Anderson Real Estate Inc. represented the development owners in the transaction, while Andrew Sellett of Cushman Wakefield represented the tenants. Click here to read more.
Strietmann Center, the largest office building in Over-the-Rhine, continues to add tenants. Parker Williams, a London-based branding/graphics design company, is opening its second U.S. office in Strietmann Center. The company signed a long-term lease for about 4,000 square feet of space in the building at 231 W. 12th St. Everything but the House, the Cincinnati-based online estate sale auction house, also moved its corporate headquarters into about 5,000 square feet of space at Strietmann Center. In addition to adding Parker Williams and EBTH, Saatchi & Saatchi X, a shopper marketing agency that signed a long-term lease for the entire sixth floor of the building last fall, has already expanded. The company signed a lease for the entire fifth floor of the building in addition to its existing space. Click here to read more.
Toast & Berry, a breakfast/brunch/lunch restaurant from Avalon Restaurant Group, opened its first location the day after Christmas. The restaurant, located at 9856 Montgomery Road, is next to the new Stone Creek Dining Co. at the Exchange at Twin Lakes, a new retail development next to Twin Lakes Senior Living community. Ed Biery, who served as chief operating officer of Flipdaddy’s Brilliant Burgers & Craft Beer Bar, launched the new restaurant company. Toast & Berry signed a long-term lease for its space. Terry Ohnmeis, senior associate with Cushman & Wakefield, represented Toast & Berry. Read more here.
Tire Discounters has purchased a downtown office building that will become home to the growing retailer’s headquarters. An affiliate of Tire Discounters purchased the building at 200 W. Fourth St. from the Greater Cincinnati Foundation for $1.84 million. Jamie Ward, president of Tire Discounters, said the purchase was a strategic decision for the growing company. About 90 Tire Discounters employees will move into the building at 200 W. Fourth St. A little more than half of those 90 employees are already downtown with the balance located in Sharonville. Read more here.
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...