{"id":1004126373,"date":"2015-08-28T11:49:26","date_gmt":"2015-08-28T19:49:26","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359543"},"modified":"2020-04-24T05:00:42","modified_gmt":"2020-04-24T13:00:42","slug":"apollo-duke-wrap-office-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apollo-duke-wrap-office-deal\/","title":{"rendered":"Apollo, Duke Wrap Office Deal"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_359583\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Deerfield-Crossing.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-359583\" title=\"Deerfield Crossing\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Deerfield-Crossing.jpg\" alt=\"Deerfield Crossing\" width=\"300\" height=\"165\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Deerfield Crossing<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Duke Realty Corp. continues to sell off its properties in Ohio. Most recently, a fund sponsored by Apollo Global Management paid $103 million for six assets, the <em>Cincinnati Business Courier<\/em> <a href=\"https:\/\/www.bizjournals.com\/cincinnati\/news\/2015\/08\/27\/exclusive-nyc-investor-buys-duke-realtys.html?iana=ind_cre\" target=\"_blank\" rel=\"nofollow\">reported<\/a>.<\/p>\n<p style=\"text-align: justify;\">Warren County\u2019s Deerfield Crossing is the star of the 700,000-square-foot portfolio. Duke placed the 320,000-square-foot property, which consists of two buildings at 5181 Natorp Blvd. and 5191 Natorp Blvd., on the market in March, and sold it for $42 million, or more than $131 per square foot. <a href=\"https:\/\/www.propertyshark.com\/\" target=\"_blank\" rel=\"nofollow\"><em>PropertyShark<\/em><\/a> lists the total market value of the 92 percent-occupied Deerfield Crossing at $27.7 million.<\/p>\n<p style=\"text-align: justify;\">The three Blue Ash Class A office buildings\u2014Pfeiffer Woods, Westlake Center and Lake Forest Place\u2014sold for $54.2 million, while the remaining Class B properties\u2014Northmark I and Remington Park A &amp; B\u2014changed hands for $7.25 million. But Apollo did not hold on to the Class B buildings for long. According to the <em>Business Courier<\/em>, Meyer Properties Inc. <a href=\"https:\/\/www.bizjournals.com\/cincinnati\/news\/2015\/08\/27\/exclusive-neyer-properties-scoops-up-blue-ash.html?iana=ind_cre\" target=\"_blank\" rel=\"nofollow\">has already sold these two properties<\/a> bought the buildings for $7.5 million in a transaction that closed on August 24.<\/p>\n<p style=\"text-align: justify;\">The transactions are part of Duke\u2019s long-term strategy to dispose of its office portfolio and focus on industrial assets. The Indianapolis-based owner and developer is the largest industrial landlord in Greater Cincinnati, with 28 buildings and about 9 million square feet of space.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.dukerealty.com\/\" ><em>Duke Realty Corp.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Duke Realty Corp. continues to sell off its properties in the state of Ohio.<\/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-1004126373","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 v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apollo, Duke Wrap Office Deal - 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\/apollo-duke-wrap-office-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apollo, Duke Wrap Office Deal\" \/>\n<meta property=\"og:description\" content=\"Duke Realty Corp. continues to sell off its properties in the state of Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/apollo-duke-wrap-office-deal\/\" \/>\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=\"2015-08-28T19:49:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-24T13:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Deerfield-Crossing.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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apollo-duke-wrap-office-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/apollo-duke-wrap-office-deal\/\",\"name\":\"Apollo, Duke Wrap Office Deal - 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