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Christ Hospital’s $50M Outpatient Center Nears Opening in Montgomery

28 Mar 2015, 3:22 pm

By Adrian Maties, Associate Editor

Christ Hospital’s $50 million outpatient center in Montgomery will welcome its first patients on April 6. A ribbon-cutting ceremony will be held May 6 at a formal grand opening.

Located at 11140 Montgomery Road, Montgomery Outpatient Center was developed by Brandicorp, with Duke Realty Corp. serving as contractor and McGill, Smith, Punshon, Inc. as architect. GBBN Architects designed the interiors.

Standing three stories tall, the 80,000-square-foot building will offer a wide variety of services, including primary care, gynecology, urology, rheumatology, podiatry, orthopaedics and sports medicine, physical and occupational therapy and radiation oncology. The facility will also provide lab services and pre-surgery testing, cardiovascular testing and imaging.

In a statement, Christ Hospital said that the full-service radiation oncology unit will be staffed by leading physicians and state-of-the-art technology that includes a linear accelerator and a CT Simulator.

According to the Cincinnati Business Courier, Christ Hospital will employ about 200 people at the new center. Fifty of the positions will be new, while the rest will be filled by personnel relocated from other Christ Hospital sites in the region.

Rendering: Christ Hospital



P&G Plans $300M Expansion in Mason

28 Mar 2015, 2:39 pm

By Adrian Maties, Associate Editor

Procter & Gamble plans a $300 million expansion on its Mason campus. The consumer products giant said this month that it intends to add a 500,000-square-foot research and development facility to its 1.5 million-square-foot campus at 8700 Mason-Montgomery Road.

The new Beauty Innovation Center will house laboratories, pilot plants and space for focus groups. HDR Inc. of Princeton, N.J., is the project’s architect; Gensler is designing the interior, and M+W Group of Watervliet, N.Y. and Indianapolis-based Hunt Construction Group are serving as general contractors.

The Cincinnati Business Courier reported that, although final plans are still being completed, preliminary construction is expected to start next month.  Starting in 2018, 1,150 employees will transfer to the new facility from the Sharon Woods Innovation Center, which P&G plans to sell.

Another 200 contractors will move from P&G’s Blue Ash site to the new Beauty Innovation Center. Once the move is complete, P&G will be Mason’s largest employer by far, with upward of 3,650 employees and contractors working on its campus and a payroll of $160 million.

According to the Cincinnati Enquirer, the city of Mason is giving P&G a helping hand with the project. On March 23, city officials voted unanimously to approve a 15-year, $34 million tax incentive package.



Verst Logistics Signs Northern Ky.’s Largest Industrial Lease of 2015

28 Mar 2015, 2:22 pm

By Adrian Maties, Associate Editor


By Adrian Maties, Associate Editor

Verst Group Logistics is expanding in northern Kentucky. The company recently signed a lease with RT Hebron L.L.C. to occupy the entire 189,400-square-foot distribution center at 1985 International Way in Hebron.

Completed in 1997 on a 14-acre site, the facility offers 104,900 square feet of dry storage, a 38,000-square-foot freezer, 13,200 square feet of office space on two levels, 18,400 square feet of refrigerated space, a 12,400-square-foot refrigerated dock area and plentiful parking for employees and trailers.

In a statement, Paul Verst, the company’s president and CEO, cited the facility’s central location near Kentucky Route 237 and Interstate 275 in the airport submarket, calling it ”ideal for our company and customers.”

DTZ Executive Managing Director Jeff Bender and Vice President David Kelly represented the landlord in the transaction. ”This is the largest lease transaction completed in Northern Kentucky so far this year,” said Bender, adding that the vacancy rate for Class A modern bulk product in the market is the lowest in a decade. 

Photo credit: DTZ



Sinclair Community College to Invest $32M in Dayton Campus

24 Mar 2015, 4:24 pm

By Adrian Maties, Associate Editor

On March 10, the Sinclair Community College Board of Trustees approved $32 million in funding for projects on its downtown Dayton campus, the school’s largest capital investment in 40 years.

Most of the funds will flow to the $25 million Health Sciences Center project, a transformation of the campus’s Building 14 into a state-of-the-art education and training facility. The facility will help consolidate the school’s healthcare programs, free up space elsewhere on the campus, create efficiencies and encourage inter-professional education.

Sinclair will also invest $5 million to build the National UAS Training and Certification Center. The project involves the adaptive reuse of the entire first floor of Building 13, as well as the construction of a two-and-a-half-story pavilion for unmanned aerial systems calibration and flight training.

The remaining $2 million will go to the modernization of Buildings 10 and 11, which will house the Integrated Student Services Center. Sinclair said that this renovation project will help it provide individualized support to students for financial aid, enrollment and registration.

 

Rendering courtesy of www.facebook.com/sinclaircommunitycollege.



Monmouth Pays $13.4M for New Monroe Build-to-Suit

22 Mar 2015, 11:59 pm

 By Adrian Maties, Associate Editor

Monmouth Real Estate Investment Corp. has acquired a brand-new build-to-suit industrial building in Monroe. The Freehold, N.J.-based REIT paid $13.4 million for the property.

Located on a 22.4-acre site at 201 Exploration Drive, Monmouth’s new facility is net-leased for 15 years to UGN Inc., an auto parts supplier based in Illinois. The 232,000-square-foot building is expandable by 155,000 square feet, the company said in a statement.

Among the nation’s oldest equity REITs, 47-year-old Monmouth specializes in net-leased industrial properties. Its portfolio comprises 89 assets in 28 states totaling nearly 13 million rentable square feet.

In its recently released outlook for metropolitan Cincinnati, CBRE Group Inc. predicts that the industrial market will continue to expand in 2015, showing improving fundamentals, robust demand and increasing new construction. Developers are expected to deliver between 3 and 4 million square feet of industrial space this year.

Despite the influx of new product, CBRE estimates that strong demand for both Class A and Class B assets will nudge rents up 5 to 10 percent from the current $3.48 per square foot.

 







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