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SpiceFire Plans January Move to Saengerhalle in Over-the-Rhine

17 Aug 2014, 5:04 pm

 By Adrian Maties, Associate Editor

After outgrowing its quarters in downtown Cincinnati, SpiceFire, a brand innovation consultant, will relocate next January to the booming Over-the-Rhine neighborhood.

Currently located at 30 Garfield Place, SpiceFire will move into a 7,500-square-foot space in Saengerhalle, an historic 29,000-square-foot building located on Race Street near Washington Park. SpiceFire’s future headquarters is currently occupied by the Cincinnati Center City Development Corp. 3CDC collaborated with NorthPointe Group on a redevelopment of Saengerhalle that was completed in 2010.

For its part, 3CDC will depart Saengerhalle for the Pabst Bedding Warehouse building at 12th and Walnut Streets following a $7.8 million renovation.

At Saengerhalle, SpiceFire’s new neighbors will include Northpointe Group, Bayer & Becker, 4EG, Necco, Munoz Agency, Kurt Platte, KMK and JYS Productions, as well as Zula Restaurant and Wine Bar. Most have long-term leases. In a statement, 3CDC said that it is completing a lease with a restaurant and bar for first-floor space and two tenants for second-floor office space.

“We are excited to join the Over-the-Rhine creative community and become a part of the innovation hub that has been built by such companies as Centrifuse, the Brandery and others,” said Tammy Cahill, a SpiceFire partner, in a statement. “I can’t think of a better location to fuel our momentum and advance our vision of inspiring and igniting brand growth.”

According to CBRE Group Inc., the office vacancy rate in the Cincinnati metro area has declined from 23.1 percent in the second quarter of 2013 to 21.5 percent in the second quarter this year. During the first half of 2014, prices ticked up from $18.80 in the first quarter to $18.88 in the second quarter.

Charts courtesy of CBRE.

 



AVANA Capital, Middletown Hotel Management Team on Hotel/Event Center in West Chester

11 Aug 2014, 1:08 am

By Adrian Maties, Associate Editor


A new hotel and event center is coming to West Chester. A partnership of Middletown Hotel Management and AVANA Capital plan an Aug. 27 groundbreaking for the project, dubbed Center Park. It will feature a 130-key Holiday Inn, an event center that will accommodate 650 guests, Ohio’s first Johnny’s Italian Steakhouse  and a “Blue” Lounge.

AVANA and Middletown did not disclosed the cost of the project, but said that they expect to open Center Park in the fall of 2015. In a statement, the partners predicted that Center Park ”will be an anchor for the township and a Butler County tourism draw for years to come.” The project is expected to create up to 135 new full-time and part-time jobs.

State and local officials are expected to attend the private groundbreaking ceremony at 5800 Muhlhauser Road, including Senator Bill Coley and representatives of Speaker of the House John Boehner and Gov. John Kasich.

Mason-based HiFive Development will construct the facility, which the developers say will incorporate a variety of environmentally friendly features: LED lighting, a rooftop energy management system, and acoustical separation to minimize noise.

“The can-do attitude of the AVANA Capital people was key to bringing this project to life,” Bob Ritter, Vice President of Operations for Beavercreek-based Middletown, said in a statement. “Financing was a challenge and without their help, we wouldn’t be as far along. They had patience and made sure all requirements were met.”

”We are excited to help in creating a major hub of business and activity with Middletown Management’s team, as well as our bank lending partners, IAB Financial of Fort Wayne, Ind., and Metro City Bank of Atlanta,” added Sanat Patel, Managing Partner of Glendale, Ariz.-based AVANA. “There will be new jobs, a great new event venue, new dining and entertainment options, and a new destination for tourists and business travelers. “

Rendering: Middletown Hotel Management



Company Expansions to Bring 450 New Jobs Clark, Butler Counties

1 Aug 2014, 8:51 pm

By Adrian Maties, Associate Editor

Two recently announced corporate expansions will bring more than 450 new jobs to Clark and Butler counties.

As part of a three-year expansion plan, Speedway L.L.C., a subsidiary of Marathon Petroleum Corp., will bring 350 new jobs to Clark County. The Enon, Ohio-based company plans to both acquire a new building and make additional investments at its current headquarters at a  total estimated cost of $9.1 million.

According to the Dayton Development Coalition, Speedway will purchase a 55,572-square-foot office building in Springfield’s NextEdge Applied Research and Technology Park to house the company’s expanded operations.

“This is a major win for Clark County, for the Dayton region, and for the state of Ohio as a whole,” Dayton Development Coalition President and CEO Jeff Hoagland said in a statement. “As a regional affiliate of JobsOhio, and as a champion for continued growth in the region, the Dayton Development Coalition is certainly pleased to see 350 new jobs for Clark County.”

Speedway President Tony Kenney said the expansion stems in part from the  company’s pending $2.9 billion acquisition of Hess Retail Holdings L.L.C. In May, Speedway announced it had signed a definitive agreement to acquire the subsidiary of Hess Corp.  The deal is expected to close  late in the third quarter and will make Speedway the largest company-owned and operated convenience store chain in the U.S. by revenue and the second largest by number of stores.

“Clark County was the best location for us to expand and add these jobs.” Kenney said. “Having facilities in Enon and now in Springfield keeps our operations close together in a central location that is good for attracting talent.”

Sugar Creek Packing Co.is also looking to grow its presence in Ohio. According to the Dayton Business Journal, the Washington Court House-based company plans to move its headquarters to Butler County.

Sugar Creek will move to a 170,000-square-foot facility, at 4235 Thunderbird Lane in West Chester Township. This new location will serve as corporate headquarters, manufacturing and warehousing facility and will house 111 employees. The company will renovate the building and add 14,000 square feet of office space.

On Monday, July 28, the Ohio Tax Credit Authority approved a 45 percent, seven-year tax break, which requires the company to maintain its presence in Butler County for 10 years. Ohio competed with Indiana for the company. As it is only leasing the facility, Sugar Creek will not be eligible for local incentives.

 

 



Metro Cincinnati’s Fourth Homewood Suites by Hilton Opens In Mason

26 Jul 2014, 5:03 am

By Adrian Maties, Associate Editor

The fourth Homewood Suites by Hilton in Greater Cincinnati recently opened its doors to guests in Mason.  Located at 5325 Natorp Blvd. off I-71 in Mason’s business district, the 115-key hotel is owned by Deerfield Hospitality L.L.C. .

Completed at a cost of $10.7 million, Homewood Suites by Hilton Cincinnati Mason is located 19 miles from downtown Cincinnati and 35 miles from Cincinnati/Northern Kentucky International Airport.

Homewood Suites by Hilton Cincinnati Mason was developed on a 2.8-acre site acquired for $900,000 by Deerfield Hospitality in late 2012. Construction started last year.

The hotel offers studio and one-bedroom suites that feature internet access and fully equipped kitchens. Hotel amenities include event space for up to 48 people, a complimentary 24-hour business center, flexible meeting rooms, an indoor swimming pool and a 24-hour fitness center.

Photo credits: Homewood Suites by Hilton

 



Neyer Properties Plans Mini-Lifestyle Center In Green Township

19 Jul 2014, 4:07 am

By Adrian Maties, Associate Editor

Neyer Properties plans to start construction this month on a 47,000-square-foot mini-lifestyle center in Green Township.

Named Harrison Greene, the project will be located along Harrison Avenue, near Westwood-Northern Boulevard.

The development will consist of a 17,000-square-foot retail building fronting Harrison Avenue and a 30,000-square-foot office/medical building directly behind it. Neyer is constructing the project on a site purchased from Green Township. The company has received tax increment financing for infrastructure work.

Wesbanco will provide financing for the project. According to the Cincinnati Business Courier, Neyer will invest between $8 million and $10 million in the development. Frank Raeon of Townmark has been retained as the leasing agent for the retail portion.

Tom + Chee, First Watch, Graeter’s and Dewey’s Pizza are expected to open on April 1, 2015. In a news release, Neyer said about 4,200 square feet of retail space are still available.

The retail portion of the project will have a layout similar to that of the development anchored by Graeter’s and Dewey’s Pizza in West Chester. In addition, the common areas will feature a patio with seating, music, WiFi and a fountain.

Rendering: Neyer Properties







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