{"id":1004031948,"date":"2011-08-29T05:26:17","date_gmt":"2011-08-29T13:26:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004031948"},"modified":"2022-12-06T16:07:44","modified_gmt":"2022-12-07T00:07:44","slug":"hertz-gets-42m-loan-in-downtown-cincinnati","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hertz-gets-42m-loan-in-downtown-cincinnati\/","title":{"rendered":"Hertz Gets $42M Loan in Downtown Cincinnati"},"content":{"rendered":"<p><strong>August 29, 2011<\/strong><br \/>\n<em>By Nicholas Ziegler, News Editor<\/em><br \/>\n<a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082911-The-Center-600-Vine-Cincinnati.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004031949\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hertz-gets-42m-loan-in-downtown-cincinnati\/082911-the-center-600-vine-cincinnati\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082911-The-Center-600-Vine-Cincinnati.jpg\" data-orig-size=\"480,303\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"082911 &#8211; The Center 600 Vine Cincinnati\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082911-The-Center-600-Vine-Cincinnati.jpg?w=480\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/08\/082911-The-Center-600-Vine-Cincinnati.jpg\" alt=\"\" title=\"082911 - The Center 600 Vine Cincinnati\" width=\"150\" height=\"150\" class=\"alignright size-thumbnail wp-image-1004031949\" \/><\/a><\/p>\n<p>The Queen City has seen a shot of economic tonic, as The Center at 600 Vine, a 625,765-square-foot, Class A office building in Cincinnati, has been refinanced for $42 million. The building, just a block from Fountain Square, sits on the edge of the city\u2019s Central Business District.<\/p>\n<p>Originally built in 1984 as the Convergys Center, the property underwent a $9 million renovation in 2006 and was renamed The Center at 600 Vine.\u00a0The property is currently 68 percent leased to tenants including FirstGroup America.<\/p>\n<p>The loan, arranged by Holliday Fenoglio Fowler, L.P., was taken by the Hertz Investment Group L.L.C., for a 36-month, adjustable-rate term through U.S. Bank.\u00a0 Financing proceeds are replacing a maturing loan and providing for tenant improvements, leasing commissions and building capital costs.<\/p>\n<p>Prime office space remains at a premium in Cincinnati. According to a Jones Lang LaSalle research report, the downtown area saw no new deliveries of office space in the second quarter of 2011 and, with only 20,000 square feet currently under construction, the city\u2019s vacancy rate has likely peaked. Declining unemployment has been a positive sign, and urban submarkets have reported 74,000 feet of net occupancy growth, a positive trend for the first time since mid-2009.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hertz Investment Group took a $42 million loan on The Center at 600 Vine, a 625,765-square-foot, Class A office building in Cincinnati, from U.S. Bank. <\/p>\n","protected":false},"author":1201,"featured_media":1004031949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,13,21742,21747],"tags":[],"class_list":["post-1004031948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-midwest","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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