CINCINNATI – March 31, 2014– Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that 4600 Smith Road Holdings LLC sold the 811,670-square-foot Central Parke Business Park Portfolio to PBY Partners, a Greater Cincinnati-based partnership, for $34 million.
The portfolio is comprised of five office buildings, five flex buildings and one retail building, Grand Central Station, as well as a seven-level parking garage containing 1,400 spaces. The buildings are located in the City of Norwood, OH, and the Midtown submarket in the heart of Greater Cincinnati. Major tenants include: Cincinnati Bell, Education at Work, Oak Ridge Associated Universities, U.S. Bank, TriHealth, ITT Educational Services, Fitworks and ADT Security Services.
Portfolio owner 4600 Smith Road Holdings LLC was represented by Executive Managing Director Jim O’Connell, Vice President Mike Sullivan and Executive Managing Director Tom Powers of Cassidy Turley’s Cincinnati Capital Markets team.
“Cassidy Turley is pleased to have provided a full spectrum of services including leasing, management and disposition in this sales transaction,” said Cassidy Turley’s Managing Principal Doug Bolton. “Going forward, we will continue to provide leasing services for the Central Parke Business Park Portfolio.”
The buildings are located at 4600-4650 Montgomery Road; 2100 Sherman Road; 4643 Forest Avenue; 4600-4850 Smith Rd; 2300 Wall Street; and 4600-4750 Wesley Avenue.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information.