“Capital markets are especially hot, with a lot of investors actively looking for viable projects, but the market is top 10 in almost every category” said John Gartner, Brokerage Senior Vice President & Principal for Colliers International. Industrial market statistics for Greater Cincinnati feature a 4.3% vacancy rate and 3.3M square feet currently under construction.
In Boone County, Kentucky, DHL and Amazon Prime global cargo hubs at CVG have spurred nearly $70 million in federal grant money to expand key interchanges along the I-75/71 corridor to accommodate the anticipated influx, according to Corporex Managing Director Tom Banta.
Meanwhile, the northern counties of Cincinnati have felt Amazon’s presence as well, said Schueler Group Executive Vice President Jeff Eichhorn. Last year, the shipping giant installed a new fulfillment center and brought 1,000 new jobs to Monroe, Ohio. (In 2017, Amazon’s presence at CVG and Monroe combined resulted in 3,700 new jobs, $54.78M in new payroll and $1.52B in capital investment for the region.) Eichhorn said the group’s current mandate is to secure more large, industrial building sites to accommodate deals the recent one that brought more than new jobs to Mane Inc.’s food and flavoring facility in Lebanon, Ohio.
Northern Kentucky’s urban river cities of Ludlow, Covington, Newport, Bellevue and Dayton are seeing heightened interest from developers and real estate professionals who in recent years have scaled transformative adaptive reuse, residential and office projects including River Center (home to large-scale employers like CTI), Market Lofts, Hotel Covington and the historic, mixed-use Mutual Building.
As a whole, Greater Cincinnati’s employment and office space centers are growing, with 14 projects completed over the last 60 months in the 50,000-100,000 square foot range.
Finding the right site can make or break a business expansion decision. The three-state, 15-county Greater Cincinnati region boasts a wide variety of available sites in Southwest Ohio, Northern Kentucky and Southeast Indiana. Below are just a few available sites garnering interest from a wide range of growing companies; visit REDICincinnati.com/available-sites for a full list.
CINCINNATI URBAN CORE
The Strietmann Center
Located West 12th Street, downtown Cincinnati, 77,434 sq. ft.
Available square footage: 70,000
Surrounding amenities: Located in hip, historic Over-the-Rhine (OTR), a neighborhood that’s abundant with restaurants, retail and upscale urban living. The heart of the Cincinnati arts scene — walkable and on the streetcar line.
Building amenities: Historic property, solar panels, LEED certified, terrace and conference center with city views, ample adjacent parking.
For more information, please visit thestrietmann.com.
Located U.S. Route 50/River Road; 5 miles west of downtown Cincinnati and 16 miles to the Cincinnati/Northern Kentucky International Airport
Size: 46 acres
Surrounding users: adjacent to Peter Cremer North America, Kinder Morgan Steel Terminal and Contanda Terminals; speculative buildings currently planned
Rail service: adjacent to Gennessee & Wyoming line with rail spur option available
Electric capacity: 4MW
Natural gas capacity: 150 mcf/hour (108K mcf/month)
Water capacity: 1.62 mgd
2100 Section Road
Located .25 mile from I-75, 20 minutes to the Cincinnati/Northern Kentucky International Airport
Size: 56 acres
All utilities at property
Due diligence completed
Rail Line: adjacent to Gennessee & Wyoming line with rail spur option available
Electric capacity: 4MW
Natural gas capacity: 100 mcf/hour
Water capacity: 2.1 mgd
For more information, visit REDICincinnati.com/sectionroad.
South Afton Industrial Park
Located SR 32/Half Acre Road; 11 miles east of I-275, 26 miles from downtown Cincinnati and 35 miles to the Cincinnati/Northern Kentucky International Airport
Size: 242 acres
Electric capacity: 15 MW
Natural gas capacity: 57,600 mcf/month
Water capacity: 2 mgd
Wastewater capacity: 432,000 gpd
For more information, visit cincinnatiohiodindustrialpark.com/available-land.
Atlantic Corporate Center
Located 25 Atlantic Avenue, Erlanger KY; just off I-275 and I-71/75, 15 minutes from downtown Cincinnati; 4 miles to the Cincinnati/Northern Kentucky International Airport
Size: 38 acres
Site amenities: spectacular location adjacent to I-275/I-71/75 and CVG airport, ample parking, innovative design, expansive floor plan (four floors), up to 200,000 square feet of customizable office space.
Marydale Business Park
Located Donaldson Highway (KY-236)/Houston Road (KY-842), Boone County, KY; just off I-75, 15 minutes from downtown Cincinnati, 5 miles to the Cincinnati/Northern Kentucky International Airport
Size: 226 acres with 179 developable acres
Zoning: Office, Residential, Commercial, and Industrial
Electric capacity: 20 MVA
Natural gas capacity: 200 MCFH
Site amenities: 0.5 miles from I-75, 5 miles from Cincinnati/Northern Kentucky International Airport, close proximity to Citi Bank’s shared services operations and Perfetti Van Melle USA