Knowledge That Sells April 2012


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Knowledge That Sells April 2012

  1. 1. Knowledge That SellsApril 2012General • Hallmark Campus Communities is building an $11 million, 92-unit• FirstService Corporation announced that it has successfully student housing project along Jefferson Avenue in Clifton. completed the acquisition of all of the assets of the Colliers International operations in the United Kingdom which also includes • The Northgate Mall was sold to Dallas-based Tabani Group; the sale ownership interests in the Colliers International operations in Ireland price of the mall was estimated in the low- to mid- $30 and Spain. FirstService owns nearly 90% of Colliers International million range. globally and this acquisition will combine the strengths of both firms in order to better serve clientele. • BSM Colerain LLC purchased a retail building on 0.75 acres for $685,000. The building will be torn down and construction for aMedical small strip center will begin soon.• Wellington Orthopaedic & Sports Medicine is moving its Oxford offices to a larger space and will add more physician coverage. The new location at 5151 Morning Sun Road will serve patients across Office Butler County, Union County and Dearborn, Indiana. • Nielsen has completed its relocation of about 500 employees from Covington to 250 E. Fifth Street in the Chiquita Center.• A $20 million Mercy Health medical office building planned for Norwood will include a freestanding emergency department that will • State Farm Insurance leased 2,500 SF of office space at Colerain stand at 56,000 SF and is expected to bring more than 40 jobs. Professional Center, located at 7225 Colerain Avenue. • Ft. Hamilton will spend $5 million to upgrade its emergency • American Heritage Properties sold 2,000 SF of office space at department and will add 6,000 SF to the existing 14,000 SF. The 7410 Jager Court to Town Center Company. project should be completed by August 2013. • Care Connections leased 6,489 SF of office space at the Kenwood • Duke Realty has acquired five fully-leased medical buildings in Executive Center in Kenwood. Hamilton for more than $22.2 million. The buildings on Hamilton-Mason Road total more than 109,000 SF. • Indiana Tech leased 10,767 SF at 809 Wright Summit Parkway in Ft. Wright, Kentucky. • The Christ Hospital opened two new outpatient centers. One is a 68,000-square-foot facility in Green Township at 5885 Harrison • Kao USA is moving its headquarters from Spring Grove Avenue to Avenue and the other is a 44,000-square-foot facility at 1949 Dixie 312 Plum in downtown Cincinnati after signing a 55,000-square- Highway in Fort Wright. foot lease on the 10th and 11th floors.• Cincinnati Children’s Hospital is reviewing plans to build a research • BHDP Architecture renewed their lease of 23,425 SF at 302 West tower on its main campus in Avondale. The tower would be known as Third Street in the Central Business District. the “T” Tower. • ITT Technical Institute leased 76,000 SF at 7116 Office Park DriveDevelopment in Liberty Township and plans to open a campus there.• Churchill Downs Inc. formed a joint venture with Delaware North Cos. Gaming & Equipment to purchase Lebanon Raceway in Lebanon Industrial and build a video lottery terminal facility and a harness racetrack. • Port Logistics leased 19,200 SF of flex space at World Park Union Centre, located at 9422 Meridian Way in West Chester.• The developer of Norwood’s Rookwood Exchange complex has dropped the plan for a 16-screen cinema to focus on office space. • Blank Slate Brewing Co. will open near Lunken Airport and will brew beer that will be distributed to Cincinnati bars • The City of Cincinnati is looking to sell Music Hall to a private and restaurants. nonprofit entity, Music Hall Revitalization Co. Inc. The nonprofit would take control over the $165 million to renovate the building and take on • Corken Steel purchased 131,329 SF of industrial space at 7910 and all future operating costs. 7920 Kentucky Drive.• On March 1st, the 580 Building in the downtown CBD was sold in a • General Pet Supply Ohio Valley leased 50,000 SF at the Covington Sherriff’s Auction to MML RE Finance LLC for $16 million. Capital Building in Vandalia.• DHL is adding 280 jobs and investing $47 million in a new sorting • 7,000 SF of industrial space was leased by Elan Technologies at facility at its CVG hub. The project will create a new 5143 Kennedy Avenue. 200,000-square-foot sorting facility.
  2. 2. • Signs Now leased 6,250 SF of warehouse space at Union Enterprise • Ideal Image leased 3,230 SF of space at Harbour Greene on 119 Center at 9850 Princeton Glendale Road. Fairfield Ave in Bellevue, Kentucky.• D&D leased 6,250 SF of warehouse space at Union Enterprise Cen- • Menchie’s signed a five-year lease for 1,265 SF at 8177 Princeton ter at 9850 Princeton Glendale Road. Glendale Road.• Eastern Hills Properties LLC purchased 8,750 SF of industrial space at 5187 Wooster Pike. Investment • Revere Village, a Forest Park apartment complex, sold for $2.9• Modern Builders Supply leased 69,300 SF at 5141 Fischer Place. million to QA Northland Apartments LLC. The property is located at 704 Northland Boulevard.• Four Corners Church leased 44,870 SF at Beacon Point, 7700 Ser- vice Center Drive, in West Chester. • Maple Oaks Estates, a 167-unit townhome apartment community, was sold February 3rd to Edgewood Capital for $5.6 million. TheRetail property is located at 2743 El Camino Drive in Middletown and is 95% occupied.• Solid Training LLC leased 2,450 SF of retail space at Glenbridge Crossing in Western Hills. • The Drawbridge Inn was purchased at public auction for $4.5 million. The landmark hotel in Ft. Mitchell was originally con-• Wurst Bar is scheduled to open in Mt. Lookout this summer in a structed in 1970 and holds 382-units. 1,200-square-foot space located at 3204 Linwood Avenue after pur- chasing the building for $129,500. • Stone Creek Towne Center was sold to Oakbrook III for $36 million. The 143,000-square-foot property is located between• Knotty Pine on the Bayou reopened mid-March in its Cold Spring, I-275 and Colerain Avenue. Kentucky location at 6302 Licking Pike. • The Shoppes of Mason sold for $8.1 million to Optimus. The• The Fresh Market leased 20,497 SF of retail space for 10-years at 80,800-square-foot property is anchored by Kroger. the Voice of America Center. • K&W Development Inc. purchased the building at 9750 Crescent• ACB American leased 18,150 SF of retail space at Latonia Center, Park Drive in West Chester from Burns Properties & Leasing LLC located at 4303 Winston Avenue. for $921,300. The building is 30,000 SF and was constructed in 1990.• Aarons Rents leased 10,500 SF of retail space at Latonia Plaza in Covington. • Trident Capital Group purchased 576,241 SF of industrial portfolio space at 11520 Mosteller Road and 4115 Thunderbird Lane in• Title Boxing Fitness leased 5,000 SF of retail space at the Shoppes Ohio, and 7585 Empire Drive in Florence, Kentucky. of Loveland located at 10645 Loveland Madeira Road. Sources: Cincinnati Business Courier, Dayton Daily News, Cincinnati Enquirer, Dayton Business • Ideal Image leased 4,569 SF of space at the Voice of America Center Journal, CoStar Group, Inc., RE Business Online,, RealCapital Analytics, The Conference Board, in West Chester. The Federal Reserve Board, Xceligent.• Royal Grocers leased 3,640 SF of retail space at Crystal View Plaza located at 11974 Lebanon Road in Sharonville, Ohio. Community Involvement• Tsunami Jims Pool Store leased 3,424 SF at Princeton Landings. Colliers International in Greater Cincinnati will serve as presenting sponsor for the• Marco’s Pizza leased 2,000 SF of space at the Tri Centre Plaza on Princeton Pike. Cincinnati Youth Collaborative United• Hyde Park Pediatric Dentistry leased 2,511 SF of retail space at Hyde “FORE” Youth Golf Outing on May Park Plaza. 17th at the Vineyard Golf Course. The• Orange Leaf leased 2,100 SF of space at Anderson Towne Center on CYC assists inner-city students with challenging upbringings through Beechmont Avenue. mentoring, tutoring and various other support systems. To learn more• Smashburger leased 1,782 SF of retail space at Cherry Grove Plaza about the Cincinnati Youth Collaborative or to register for the United on Ohio Pike. “FORE” Youth Golf Outing, visit • Place 2 B Night Club signed a five-year lease for more than 29,000 SF of space in Forest Park at the Cincinnati Mall. “Knowledge That Sells” is a monthly publication compiled and• Yellow Submarines signed a ten-year lease for 2,260 SF at Tri-County Towne Center. researched by the market research department at Colliers International. For more information, or to be added to the• The owner of Cincinnati’s Cumin Eclectic Cuisine in Hyde Park is opening a sister restaurant next door called “M”, set to open subscriber list, please contact Brian Graham at brian.graham@ this summer.• Best Buy will close 50 big-box stores across the U.S. and will launch plans for its new “connected store” concept. COLLIERS INTERNATIONAL Greater Cincinnati• Dollar General leased 11,737 SF of space at Delhi Plaza. 425 Walnut Street, Suite 1200• Huntington National Bank leased 3,400 SF of space at Delhi Cincinnati, OH 45202 Shopping Center located at 5048 Delhi Avenue. 513 721 4200 Fax 513 721 0630