Cincinnati OH Knowledge That SellsDocument Transcript
Knowledge That SellsNovember 2011Development Industrial• Cincinnati City Council is being asked to approve $540,000 in property tax • Emitted Energy leased 3,500 SF at 756-758 Old State Route 74. incentives to finance the renovation of the old Cincinnati Color Building at 1400 Vine Street. The building will have 6,000 SF of upscale office space • H&Y Cabinet & Granite Depot leased 12,500 SF at Union Enterprise and 3,700 SF of restaurant space. Center in West Chester.• Hollywood Casino in Lawrenceburg, Indiana and the City of Lawrenceburg • Rhinestahl Corporation, a manufacturer of tools used by aircraft engine will build a $50 million convention center and hotel. The Lawrenceburg mechanics, purchased 122,000 SF at 1111 Western Row Road for Event Center will be 235,000 SF, with 180 hotel rooms, an 18,000 SF $3.2 million. concert hall, 7,500 SF of ballrooms and meeting space, and a 150-seat restaurant and bar. The new event center is scheduled to open during the • Consolidated Neuro Supply Inc. is investing $800,000 into a new summer of 2013. 15,000 SF building on Technecenter Drive in Milford. • Hitachi Automotive is opening a plant in Berea, Kentucky, which will beOffice dedicated to making mostly hybrid and electric vehicles.• TSC Apparel leased 11,191 SF and KForce Professional Staffing leased 3,037 • Global Scrap Management has signed a 300,000 SF lease at the SF at Centennial Plaza III in the Central Business District. former Ford Motor Co. transmission plant in Batavia.• Camp Dresser & McKee expanded into 10,150 SF at Governor’s Hill • The Vandalia, Ohio distribution center for FedEx Corporation began its Building 7. 46,000 SF expansion and will open in August of 2012.• Lord of Life Christian Church purchased a 30,000 SF facility at Sycamore • The Hamilton-based paper manufacturer, Smart Papers Holdings, is Woods Center. closing its operations and selling off most of its manufacturing assets.• Rendigs, Fry, Kiely & Dennis signed a 15-year lease for 26,000 SF at 600 • Cahill Company purchased 17,800 SF of light industrial space at 11658 Vine Street and will relocate from the Fourth and Vine Tower. Baen Road in Sycamore Township.• The Cleveland-based law firm, Calfee, Halter & Griswold LLP, opened a • Ferguson Enterprises leased 9,432 SF at Enterprise Park V. Cincinnati office led by Charlie Luken and Richard Finan. This is their third office opened in the State of Ohio. • The University of Cincinnati purchased 210,000 SF at 5121 Fishwick Drive.• AssureRx Health, Inc. and the City of Mason have announced that AssureRx will relocate their 10,000 SF headquarters and a dry lab to 6050 • M&B Superior Holdings purchased 30,000 SF at 7300 Industrial Road. Mason-Montgomery Road. • Procter & Gamble purchased the former NuMaid site in Saint Bernard• Total Quality Logistics is expanding and relocating its Chicago office. The for a research facility for feminine care products. The property is company has grown into the fourth largest freight brokerage firm in the located across Vine Street from Procter & Gamble’s Fabric & Home country, with more than 1,500 employees. Care Innovation Center.• Performance Health and Rehab Chiropractic Center in Cold Spring recently • Mohawk Fine Papers will close its Beckett Mill manufacturing center in opened a 2,300 SF office at 3699 Alexandria Pike. Hamilton, eliminating 137 jobs by the end of the year. Mohawk plans to transition manufacturing from Becket Mill to two other paper mills in• BrandWatch Technologies, a Portland, Oregon-based company, opened an New York. office in Cincinnati. BrandWatch plans on hiring one to two staffers in the Cincinnati office in 2012.
Retail Investment• Five new shops are opening in Anderson Towne Center. In November, Raj • JACE Inc. sold Hidden Valley Apartments, 133 Hidden Valley Drive in India and Firehouse Subs will open restaurants, and, in December or January, Highland Heights, Kentucky, to Marblecliff Investments LLC for $3.9 Weight Watchers will move from 8128 Beechmont Avenue to the shopping million. center. An unnamed frozen yogurt franchise will also open later this year. The fifth retailer, Chico’s, opened in mid-October. • Reerf2 purchased Ohio Avenue Apartments from S&G Company for $1.4 million. The 48-unit complex is located at 7008 Ohio Avenue in• Willie’s Sports Café is moving from Glenway Crossing Shopping Center into Silverton. the old Texas Roadhouse building at 6380 Glenway Avenue. • Harper’s Crossing strip center was bought by VME properties for• The new 135,000 SF Target, located on the corner of Plainfield Road and $1.99 million. Cross County Ronald Reagan Highway, has opened. • The 51,000 SF athletic facility in Mason, Courts 4 Sports, was bought• Five Guys Burgers and Fries, the nation’s fastest-growing restaurant chain, by TEE Real Estate LLC for $2.3 million. Courts 4 Sports will continue will open four more local stores by next summer. The new locations will open to occupy the structure. on Glenway Avenue, Eastgate, Mall Road, and Newport-on-the-Levee. • Phillips Edison purchased two shopping centers in Georgia and South• Play It Again Sports moved from Fairfield to 11749 Princeton Pike in Carolina for about $15.2 million; 77,956 SF in Georgia and 72,287 in Springdale. The store is now 7,400 SF, which is 3,000 SF larger than the South Carolina. old location. Sources: Cincinnati Business Courier, Dayton Daily News, Cincinnati Enquirer, Dayton Business• Cheeseburger in Paradise closed in Union Township to make way for a new Journal, CoStar Group, Inc., RE Business Online, GlobeSt.com, RealCapital Analytics, The Conference westbound exit ramp for Ohio 32. Board, The Federal Reserve Board, Xceligent.• Tiffany & Co. renewed their downtown lease for 7,500 SF at 505 Vine Street, COMMUNITY INVOLVEMENT just off of Fountain Square. Colliers International in Greater Cincinnati is gearing up• Tin Roof, a live music venue, will be the ninth tenant to occupy The Banks for the United Way Campaign. United Way advances the development. It will occupy a little more than 5,000 SF and will be next to the common good by creating opportunities for a better life Police Welcome Center. for all. The nonprofit organization focuses on education, income and health, because these are the building blocks• Jeff Wyler purchased the Joe Kidd Chrysler Dodge Jeep car dealership in Lawrenceburg, Indiana. for a good quality of life. United Way works each and every day to strengthen these building blocks for everyone• Frisch’s Restaurants Inc. is closing six Golden Corral Restaurants, including throughout the Greater Cincinnati region. four locations throughout the Greater Cincinnati area. Colliers International is partnering with United Way this• Persnickety’s Resale Fashion Boutique, a new children’s resale store in year by participating in Lebanon, just opened on 640 Columbus Avenue. the annual fundraising campaign. To learn more• Chick-fil-A closed its only downtown location in Tower Place Mall. The down- about the United Way and town location closed after nearly 18 years in business. to participate in the annual• Staples leased 17,000 SF at Bridgewater Falls in Fairfield Township. giving campaign, visit www.uwgc.org.• Show-Me’s, a Midwestern sports bar, will open a new location in Colerain Township at 9343 Colerain Avenue. “Knowledge That Sells” is a monthly publication compiled and researched by the market research department at Colliers• Morris Furniture Co. is expanding its home furnishings concept to Northern Kentucky. They are moving into a 100,000 SF, five-store center on Kentucky International. For more information, or to be added to the 18/Burlington Pike. subscriber list, please contact Brian Graham at brian.graham@ colliers.com.• The former Lodge Bar is undergoing a transition into a music venue called PLAY. The 6,700 SF venue will open later this year on the first level of the COLLIERS INTERNATIONAL Executive Building in the Central Business District. Greater Cincinnati• Beaux Monde Salon and Spa leased 4,051 SF at Highland Retail II in West 425 Walnut Street, Suite 1200 Chester Township. Cincinnati, OH 45202 513 721 4200 Fax 513 721 0630 www.colliers.com