Cincinnati
Demand for Greater Cincinnati Industrial Space Strongest Since 2005
2013 has been an excellent year for the Cincinnati industrial market. As companies snatched up more and more space, rents increased and vacancies dropped, reaching pre-recession levels.
Cincinnati Seeks Brownfield Fund Grant for Brewery X Redevelopment Project
Cincinnati Beer Week is less than a month away. It’s scheduled to start on February 6 but real beer fans will be able to get into the spirit of the event even sooner. On January 27, a public meeting will be held at The Brew House to discuss the city of Cincinnati’s application for a grant from the Brownfield Fund for the Brewery X Redevelopment Project. The project’s goal is to turn a dilapidated historic building close to downtown Cincinnati, into a brewery with a tap room and an outdoor beer garden. The application is available for review at the Walnut Hills Branch of the Public Library of Cincinnati and Hamilton County.
Christ Hospital Opens P1 Garage as Part of $265M Campus Expansion Project
Christ Hospital has opened its new visitor garage on December 24. Called the P1 garage, it is part of a larger, $265 million campus expansion project. It will be the primary parking location for patients and visitors coming to the hospital.
Investor Duo Buys Former SuperValu Warehouse in Xenia
Developers Stuart Lichter of Industrial Real Estate Group and Chris Semarjian of Industrial Commerce Limited have teamed up to acquire, develop and manage commercial and industrial real estate throughout the United States and are well-known for their ability to purchase large scale facilities and repurpose them for new tenants. This month, the duo has acquired the former SuperValu Warehouse in Xenia.
Ramco-Gershenson Buys 461 KSF Shopping Center in Cincinnati Suburb
Ramco-Gershenson Properties has just surpassed the half-billion-dollar mark in its annual acquisitions with the purchase of Deerfield Towne Center, a 461,000-square-foot shopping center in the suburban Cincinnati suburb of Mason, Ohio.
Cincinnati’s Garfield Suites Hotel Changes Hands
CBRE Hotels has announced last week the sale of Cincinnati’s Garfield Suites Hotel. Cincinnati Lodging Associates, a joint venture of Sun Development, Hotel Capital and Silver Rock, it the property’s new owner. It plans to convert the all-suite hotel into a DoubleTree Suites.
INX International Breaks Ground on 62,000 SF Plant in Lebanon
INX International Ink Co., a division of Japanese company Sakata INX, announced at the end of November its plans to build a new 62,000-square-foot facility in Lebanon, Ohio. On December 5, the company broke ground on the project. The ceremony was attended by both company officials and local dignitaries.
Radisson Opens the Radisson Cincinnati North CoCo Key Water Resort
The Radisson Cincinnati North CoCo Key Water Resort opened last month. The full-service hotel boasts a 50,000 square foot indoor water park and is scheduled to undergo a comprehensive renovation project in the second quarter of 2014. It will remain open during the renovation.
$33.5M Water Street Project Expected to Start Construction in December
Water Street, one of the largest development projects in downtown Dayton in years, is getting ready to break ground. The Dayton City Commission has approved last week a development agreement with the project’s developer, Water Street Redevelopment LLC, a joint venture between Dublin-based Crawford Hoying Development and Dayton-based Woodard Real Estate Resources.
Downtown Cincinnati’s dunnhumby Centre Reaches Key Milestone in Construction
and the Cincinnati Center City Development Corporation (3CDC) broke ground on the dunnhumby Centre project in downtown Cincinnati. After almost ten months of work, the project reached an important milestone in its construction, as it received its first concrete pour at street level on November 14. Also, at the start of the month, the Cincinnati Urban Design Review Board approved the design for the new building.