{"id":1004126855,"date":"2015-09-03T08:20:44","date_gmt":"2015-09-03T16:20:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360074"},"modified":"2020-04-23T00:40:13","modified_gmt":"2020-04-23T08:40:13","slug":"late-summer-flurry-in-office-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/late-summer-flurry-in-office-market\/","title":{"rendered":"Late-Summer Flurry in Office Market"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/em><\/p>\n

\"Summit<\/a><\/p>\n

Summit Woods II<\/p>\n<\/div>\n

As summer winds down, the Greater Cincinnati office market is generating no shortage of activity. After Duke Realty sold six of its Warren County office buildings<\/a> for $103 million to a fund sponsored by Apollo Global Management, another out-of-state investor purchased a multi-tenant office building, this time located in Sharonville.<\/p>\n

Jim Bates, owner of Versailles, Ky.-based First Technology Capital, is the new owner of Summit Woods II, a 150,000-square-foot office building located at 300 E-Business Way. He purchased the property from Sabal Financial Group L.P. for more than $14.6 million, or $97 per square foot, according to the Cincinnati Business Courier<\/a>. David Rogers, principal broker with Rogers Realty Group of Lexington, Ky., represented Bates and told the Business Courier that the deal is his client\u2019s first acquisition in the market.<\/p>\n

Summit Woods II was constructed in 2000. When Sabal purchased it, in February 2014 from CW Capital Asset Management for about $10.5 million, the property was only 60 percent leased. Now, however, the Business Courier reports that it is 90 percent leased to tenants such as BSI Engineering, Devicor Medical Products Holdings Inc. and Safran USA. As a result, Bates plans no significant changes to the property and will focus instead on backfilling the remaining space.<\/p>\n

Photo credit: <\/em>DTZ<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Greater Cincinnati office market has seen a lot of action in recent weeks.<\/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":[1583,21742,21747],"tags":[],"class_list":["post-1004126855","post","type-post","status-publish","format-standard","hentry","category-cincinnati","category-latest","category-office"],"acf":[],"yoast_head":"\nLate-Summer Flurry in Office Market - 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\/late-summer-flurry-in-office-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Late-Summer Flurry in Office Market\" \/>\n<meta property=\"og:description\" content=\"The Greater Cincinnati office market has seen a lot of action in recent weeks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/late-summer-flurry-in-office-market\/\" \/>\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=\"2015-09-03T16:20:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-23T08:40:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Summit-Woods-II.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\\\/late-summer-flurry-in-office-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Late-Summer Flurry in Office Market\",\"datePublished\":\"2015-09-03T16:20:44+00:00\",\"dateModified\":\"2020-04-23T08:40:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/\"},\"wordCount\":216,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/Summit-Woods-II.jpg\",\"articleSection\":[\"Cincinnati\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/late-summer-flurry-in-office-market\\\/\",\"name\":\"Late-Summer Flurry in Office Market - 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