{"id":1004106673,"date":"2014-11-01T10:32:39","date_gmt":"2014-11-01T18:32:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=303064"},"modified":"2020-04-23T01:20:14","modified_gmt":"2020-04-23T09:20:14","slug":"laz-buys-three-downtown-cincinnati-parking-garages","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/laz-buys-three-downtown-cincinnati-parking-garages\/","title":{"rendered":"LAZ Buys Three Downtown Cincinnati Parking Garages"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_303065\" class=\"wp-caption alignright\" style=\"width: 217px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/36-E-7-East-View-Bright.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-303065\" title=\"36 E 7 East View Bright.jpg\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/36-E-7-East-View-Bright.jpg\" alt=\"\" width=\"207\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">36 E. 7th Street<\/p>\n<\/div>\n<p style=\"text-align: justify;\">LAZ Parking has acquired three parking garages in downtown Cincinnati. The tportfolio includes 2,310 parking stalls.<\/p>\n<p style=\"text-align: justify;\">Representing the first acquisitions in metropolitan Cincinnati for Hartford, Conn.-based LAZ, the properties are located at 609 Elm St., 36 E. 7th St. and 605 Plum St. CBRE Group Inc., which arranged the deal, said in a statement that the first two properties sold for a total of $24 million. The price of the third property was not disclosed. John Eckert, Scott Yards and Travis Likes of CBRE negotiated the transaction.<\/p>\n<p style=\"text-align: justify;\">The parking garage at 609 Elm St. includes 680 parking spaces and 2,400 square feet of street-level retail space. Located directly below a Class A office building, 36 E. 7th Street includes 749 parking stalls on 13 levels, as well as 30,444 square feet of retail and office space.<\/p>\n<p style=\"text-align: justify;\">The garage at 605 Plum Street has 890 parking stalls on five levels and 7,800 square feet of street-level retail space. LAZ plans to invest more than $1 million on upgrading the properties.<\/p>\n<p style=\"text-align: justify;\">The revival of Cincinnati\u2019s urban core, as well as the demand for parking, figured into LAZ\u2019s decision to buy the properties, according to CBRE. \u201cDowntown is in the midst of an unprecedented urban revitalization,\u201dEckert said. \u201cNew residential, retail, office and cultural developments, from The Banks to Over-the-Rhine, make downtown Cincinnati an attractive market for investors.\u201d<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit:<a href=\"https:\/\/www.cbre.us\/\" target=\"_blank\" rel=\"nofollow\"> CBRE<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LAZ Parking Realty Investors, an affiliate of Connecticut-based LAZ Parking, has recently acquired three parking garages located in downtown Cincinnati. The three-property portfolio includes a total of 2,310 parking stalls.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1583,21742],"tags":[],"class_list":["post-1004106673","post","type-post","status-publish","format-standard","hentry","category-cincinnati","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>LAZ Buys Three Downtown Cincinnati Parking Garages - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/laz-buys-three-downtown-cincinnati-parking-garages\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LAZ Buys Three Downtown Cincinnati Parking Garages\" \/>\n<meta property=\"og:description\" content=\"LAZ Parking Realty Investors, an affiliate of Connecticut-based LAZ Parking, has recently acquired three parking garages located in downtown Cincinnati. The three-property portfolio includes a total of 2,310 parking stalls.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/laz-buys-three-downtown-cincinnati-parking-garages\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-11-01T18:32:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-23T09:20:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/36-E-7-East-View-Bright.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"LAZ Buys Three Downtown Cincinnati Parking Garages\",\"datePublished\":\"2014-11-01T18:32:39+00:00\",\"dateModified\":\"2020-04-23T09:20:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/\"},\"wordCount\":230,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/10\\\/36-E-7-East-View-Bright.jpg\",\"articleSection\":[\"Cincinnati\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/laz-buys-three-downtown-cincinnati-parking-garages\\\/\",\"name\":\"LAZ Buys Three Downtown Cincinnati Parking Garages - 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