{"id":1004779763,"date":"2025-11-27T04:59:29","date_gmt":"2025-11-27T12:59:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004779763"},"modified":"2025-11-27T04:59:31","modified_gmt":"2025-11-27T12:59:31","slug":"rcs-pays-59m-for-cincinnati-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rcs-pays-59m-for-cincinnati-tower\/","title":{"rendered":"RCS Pays $59M for Cincinnati Tower"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/3788-e1764242305260.jpg\"><img decoding=\"async\" data-attachment-id=\"1004779764\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rcs-pays-59m-for-cincinnati-tower\/attachment\/3788\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/3788-e1764242337920.jpg\" data-orig-size=\"409,307\" data-comments-opened=\"0\" 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;\\u00a9 Yardi Systems, Inc.&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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"First_Financial_Center_Cincinnati\" data-image-description=\"&lt;p&gt;Image sourced from Yardi Matrix&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 32-story high-rise includes first-floor retail space and is subject to a ground lease. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/3788-e1764242337920.jpg?w=409\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/3788-e1764242305260.jpg?w=384\" alt=\"Exterior shot of First Financial Center, a 32-story office tower in downtown Cincinnati.\" class=\"wp-image-1004779764\"\/><\/a><figcaption class=\"wp-element-caption\">The 32-story high-rise includes first-floor retail space and is subject to a ground lease. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Real Capital Solutions has acquired First Financial Center, a 31-story office tower in downtown Cincinnati, Ohio., for $59 million.<\/p>\n\n\n\n<p>Tolis Advisors sold the 553,659-square-foot property, according to Yardi Matrix. The asset last changed hands in 2020 for $64.2 million.<\/p>\n\n\n\n<p>The acquisition represents the first central business district sale and the largest office transaction of the year in the metro, according to the same source.<\/p>\n\n\n\n<p>Executive Managing Director Tom Powers with Cushman &amp; Wakefield brokered the transaction, <a href=\"https:\/\/www.bizjournals.com\/cincinnati\/news\/2025\/11\/26\/downtown-first-financial-center-acquired-rcs-tolis.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><em>Cincinnati Business Courier reported<\/em><\/a>.<\/p>\n\n\n\n<p>Real Capital Solutions expanded its national footprint with this transaction, which is part of a $1 billion office strategy, as the company targets distressed properties with strong repurposing potential. The news comes as RCS made its entry to Connecticut in September, with the <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-im-sells-connecticut-office-campus\/\">purchase of Stamford Towers<\/a>. CBRE Investment Management sold the 332,000-square-foot office property. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-real-estate-owners\/\">Who Owns The Most Commercial Real Estate<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 255 E. Fifth St., First Financial Center has access to multiple bus and light rail stations, as well as to interstates 71 and 75. Cincinnati\/Northern Kentucky International Airport is 13 miles away.<\/p>\n\n\n\n<p>Completed in 1990, the Class A building features 28,623 square feet of first-floor retail space and 15 passenger elevators, while its amenity package consists of conference facilities, on-site cafes and a seven-story parking garage with 1,233 parking spots. The property is 91.7 percent leased to 17 tenants, including headquarters of First Financial Bank, Chemed Corp. and Dinsmore &amp; Shohl LLP.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cincinnati-prices-dropping\">Cincinnati prices dropping<\/h2>\n\n\n\n<p>Year-to-date through November, there were 20 office properties changing ownership in Cincinnati, generating $104.5 million, with assets selling for an average of $67.88 per square foot, according to Yardi Matrix. So far, Cincinnati office properties traded at more affordable prices when compared to the same period last year when 18 assets sold for a total of $180.9 million, or at an average sale price of $100.18 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the first transaction of the year involving a central business district office property.<\/p>\n","protected":false},"author":2991,"featured_media":1004779764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1583,21783,13,21742,21747],"tags":[32799,37909,52744],"class_list":["post-1004779763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cincinnati","category-investment","category-midwest","category-latest","category-office","tag-cushman-wakefield","tag-real-capital-solutions","tag-tolis-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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