SpiceFire Plans January Move to Saengerhalle in Over-the-Rhine
- Aug 17, 2014
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.