Knowledge that Sells March 2012Document Transcript
Knowledge That SellsMarch 2012General News• Cincinnati’s Dalton Avenue U.S.P.S. mail processing facility will remain open. • Weltman, Wineberg & Reis has expanded at 525 Vine Street. They are The Dalton location was removed from the federal list of facilities around the increasing their square footage from 32,000 SF to 37,365 SF. country being examined for possible closure. • Storeflix and mDynamik committed to leasing 2,000 SF of space from theDevelopment City of Mason and will also create 20 new jobs over the next two years. • KAO USA Inc. is planning a new downtown headquarters that will add 50• Steiner & Associates paid $8 million to acquire 13 parcels of land along jobs within the City of Cincinnati. The company has not announced the Liberty Way and I-75 in preparation for development of the Liberty new location. Towne Center. • Plaza Recovery, an accounts receivable management company, will expand• Al. Neyer Inc. purchased the Syrian Temple property for $1.3 million to serve its existing facility in Covington at 4351 Winston Road and add 250 jobs. as a parking lot for the neighboring building at 237 William Howard Taft Road. The 25,000-square-foot building will grow an additional 18,000 SF.• BW Partners Ltd. purchased 80-acres of land on Byers Road for $4.1 million • Top Gun Sales Performance is investing $4 million to purchase a new to develop the Austin Business Park. headquarters in Mason at 5155 Financial Way. The office will employ at least 200 people.• Plans are underway for a 120-room, 5-story hotel at Keystone Parke in Evanston at the Dana Avenue Exit off I-71. • Child Wellness Fund purchased 5,808 SF of office space at 7119 Van Kirk Avenue. • Connor Group is building a $15 million headquarters center in Miamisburg, Ohio. The 39,000-square-foot office building will be complete in late 2013. • DunnhumbyUSA will move its headquarters and more than 500 employees to a new development at the corner of Fifth and Race Streets in • Three years after Xavier University shelved a proposed $150 million downtown Cincinnati. mixed-use development, the university is discussing the possibility of the project again. • Johnson & Johnson leased 5,880 SF of office space in the Towers of Kenwood at 8044 Montgomery Road.• DHL will expand and create a new 193,000-square-foot sorting facility at CVG. The expansion will cost $47 million and will add 283 jobs, 120 of which • Bioformix Inc. plans to relocate its Connecticut research operations to its are full-time positions. new headquarters in Miami Township and hopes to create 43 jobs over the next three years.• The Christ Hospital will build a $265 million complex that includes a spine and orthopedic tower and will open in mid-2015. The hospital will also build a • Academy Inc. leased 2,937 SF of space in Century One Office Building at 900-space parking garage, which will be completed by 2014. 11590 Century Boulevard.• The Salvation Army of Cincinnati and Northern Kentucky hopes to break • Legion Logistics leased 2,240 SF of space at Florence Executive Center, ground this year on a $15 million expansion of its Booth Residence for located at 600 Meijer Drive in Florence, Kentucky. low-income seniors in Winton Hills. • Dempsey & Siders Agency leased 2,107 SF of office space at Kenwood• Two Cincinnati nonprofit developers, 3CDC and the Uptown Consortium, were Executive Center, located at 7625 Kenwood Road. awarded $90 million in tax credits aimed at spurring hundreds of millions of dollars in new housing and retail developments across Cincinnati. • Pulse Consultants leased 1,560 SF of space at 7550 Central Parke Boulevard in Mason, Ohio.• The developers of Oakley Station received approval from Cincinnati City Council to increase the number of planned apartments from 250 to 307. The • National Life Insurance leased 1,147 SF of space at the Blue Ash Executive project is estimated to cost $120 million and will include a 16-screen movie Center I on 4500 Cooper Road. theater, restaurants, retail space and apartments on the 74-acre former Cincinnati Milacron site. • Cincinnati developers, Matt Kotlarczyk and an unnamed partner, have purchased the 15,000-square-foot former Charles Miller Funeral Home in Northside and will transform it into a multi-tenant office building.Office • Paycor is moving out of Queensgate and will relocate inside of the I-275• URS signed a lease for 20,551 SF at 525 Vine. They are relocating from their loop by 2013. A location has yet to be determined. current location on East Seventh Street.
• General Electric has leased approximately 20,000 SF of office space at 8600 • Hugo will move from Oakley to Mariemont this summer. The former Governors Hill Drive. Oakley restaurant will shut down on March 24th before the transition takes place.• Local TV LLC leased 8,424 SF of office space at One Riverfront Place. • Kirby’s, an American-fare casual restaurant, is scheduled to open in • Mercy Health Medical Imaging signed a lease at 7450 Mason Montgomery Loveland in early April at 378 Bridge Street. The 3,700-square-foot Road for 2,851 SF. restaurant will seat about 150 and employ about 50 people.• Lookout Corporate Center at 1717 Dixie Highway, signed a lease with • Freshii officially opened in a 1,200-square-foot space in the U.S. Bank eInstruction Holdings, Inc. for 3,781 SF. building located at 425 Walnut Street in downtown Cincinnati. The restaurant will serve both breakfast and lunch and will seat roughly 30 • Daymond Worldwide, Inc. signed a lease at 125 East Court Street for its dine-in customers. second location in the downtown Cincinnati market. • The Church of Scientology of Greater Cincinnati has opened its new • UC Health Hematology/Oncology relocated and expanded its outpatient care location in the former 50,000-square-foot Florence Baptist Church, at the and infusion services to the West Chester Medical Campus. The new space is corner of Main Street and U.S. 42. located at 7626 University Drive, adjacent to West Chester Hospital. InvestmentIndustrial • NNN Shopping Plaza LLC purchased the 66,119-square-foot Crystal View• Rough Bros. Manufacturing Inc. is searching for space to relocate its St. Plaza on Lebanon Road. Bernard headquarters to expand greenhouse design and manufacturing operations. It is looking to move within the City of Cincinnati, but is receiving • Heritage Glen Apartments were purchased out of receivership by bids from Kentucky and Indiana as well. Creekside Village of Fairfield LLC for $1.7 million. The property is located at 5001 Pleasant Avenue and houses 229-units.• Robert Meyer purchased 5,091 SF of space at 3646 Blue Rock Road. • USAA Real Estate Co. purchased the industrial facility at 20 Logistics• Target leased 19,200 SF of industrial space at World Park Building 1. Boulevard, Building G, in Walton, Kentucky. The property was acquired from DCT Industrial Trust for $29.95 million and the building is Retail 603,586 SF. • Flagel & Papakirk LLC sold the 95-unit Revere Village multi-family • Say Cheese Restaurant has opened at the Riverside Antique Mall in the building to Rookwood/Highland Towers Investments for $2.9 million. The East End. complex is in Forest Park and is approximately 114,136 SF.• Jack in the Box will open its first Ohio location in West Chester on Tylersville Sources: Cincinnati Business Courier, Dayton Daily News, Cincinnati Enquirer, Dayton Business Road near I-75. The company also has plans to open future locations in the Journal, CoStar Group, Inc., RE Business Online, GlobeSt.com, RealCapital Analytics, The Conference Board, Greater Cincinnati area. The Federal Reserve Board, Xceligent.• Royal Grocers leased 3,640 SF of retail space at Crystal View Plaza on Lebanon Road in Sharonville. COMMUNITY INVOLVEMENT• Mattress Firm renewed its lease for 4,454 SF of retail space at Everyone Gives, a global Kenwood Place. social giving campaign• State Farm leased 1,000 SF of retail space at 4135 Alexandria Pike in Cold founded and sponsored Spring, Kentucky. by Colliers International,• AMF Bowling Centers Inc. sold 5-acres of land at 7735 Beechmont Avenue for raised more than $500,000 for charitable organizations worldwide. In $1.15 million to a developer to build a new Buffalo Wild Wings restaurant. Cincinnati, about 25 local nonprofits partnered with Everyone Gives• Planet Fitness will open two gyms in the Cincinnati area this spring, one in including the Boy Scouts of America, the Greater Cincinnati YMCA and Finneytown at Brentwood Plaza, and the other at the former Sears Hardware space in Newport Plaza. the Evans Scholars Foundation. To learn more about the global campaign,• Tuesday Morning, a home goods retailer, leased 12,840 SF at 7800 Connector visit www.everyonegives.org. Drive in Florence, Kentucky. “Knowledge That Sells” is a monthly publication compiled and• At the Village Mall in Florence, Kentucky, Five Guys Burgers & Fries has leased 2,500 SF and Aspen Dental leased 3,200 SF of a new outlot building researched by the market research department at Colliers currently under construction. International. For more information, or to be added to the• Song Spa opened at Newport on the Levee in the main gallery building. subscriber list, please contact Brian Graham at brian.graham@ colliers.com.• In March, the Silver Ladle restaurant will open in the 580 Building downtown. It will offer a wide range of menu items from Cincinnati chili to soup, sandwiches, burritos and more. COLLIERS INTERNATIONAL Greater Cincinnati• Ulta leased 10,895 SF of retail space at Florence Square on Mall Road. 425 Walnut Street, Suite 1200 Cincinnati, OH 45202• Fairfield Pharmacy leased 3,366 SF of retail space at 765 Nilles Road in Fairfield, Ohio. 513 721 4200 Fax 513 721 0630 www.colliers.com