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East Point Office Building Sold for $6M
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John Beagle View Drop Down
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Joined: Apr 23 2007
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Points: 1855 		Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Topic: East Point Office Building Sold for $6M
    Posted: Apr 16 2012 at 11:56am
The building opened in 2009, part of a $35 million development with plans for two more similar office buildings that have not yet been constructed. Source: DDN

It had received a state $2.16 million Job Ready Sites program grant and is registered by Leadership in Energy and Environmental Design.

The building sold for $6 million, $2.6 million of the cost was from a grant.

Good to see the Government subsidizing Al Nyer, Inc to unfairly compete against non subsidized Middletown real estate.

Thanks for all the help!
John Beagle

Middletown USA

News of, for and by the people of Middletown, Ohio.
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chmoore1 View Drop Down
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Joined: Jan 25 2012
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Points: 230 		Post Options Post Options   Thanks (0) Thanks(0)   Quote chmoore1 Quote  Post ReplyReply Direct Link To This Post Posted: Apr 16 2012 at 12:08pm
John: where is this?  Middletown?  West Chester? or where? Thanks.  chmoore
 
 
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Vivian Moon View Drop Down
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Joined: May 16 2008
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Points: 4187 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Vivian Moon Quote  Post ReplyReply Direct Link To This Post Posted: Apr 16 2012 at 1:33pm

Middletown East Pointe office building sold

Staff Report Updated 1:16 PM Monday, April 16, 2012

    A Middletown office building in the Warren County part of the city has been sold for $6 million, according to county auditor records.
    Al Neyer Inc. sold last month the East Pointe Building 200, 3420 Atrium Boulevard, close to the intersection of Ohio 122 and Interstate 75. The 50,000-square-foot building’s tenants include Paychex, Casper & Casper law firm and East Pointe Dental.
    The building opened in 2009, part of a $35 million development with plans for two more similar office buildings that have not yet been constructed. It had received a state $2.16 million Job Ready Sites program grant and is registered by Leadership in Energy and Environmental Design.
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Bill View Drop Down
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Points: 710 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Bill Quote  Post ReplyReply Direct Link To This Post Posted: Apr 16 2012 at 1:56pm
Another sign that Neyer is bailing on the dismal 122 interchange.
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swohio75 View Drop Down
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Points: 820 		Post Options Post Options   Thanks (0) Thanks(0)   Quote swohio75 Quote  Post ReplyReply Direct Link To This Post Posted: Apr 16 2012 at 3:52pm

Was the $2.16 million used to construct the building or to prepare the site for construction--like utillity and sewers.

Hopefully they will use some of the newly acquired cash to start Phase 2.  Mark my word, Neyer will not build a spec building in Renaissance.  They will only build based on having a tenant.   
 
Neyer overall has been a big disappointment. 
 
Apparently CSH&Co considered Renaissance for the relocation.  Perhaps they didn't see Neyer as on a positive growth track for the area:
 
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SupportMiddletown View Drop Down
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Joined: Nov 01 2009
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Points: 181 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SupportMiddletown Quote  Post ReplyReply Direct Link To This Post Posted: Apr 17 2012 at 12:25am
Originally posted by swohio75 swohio75 wrote:

Hopefully they will use some of the newly acquired cash to start Phase 2.  Mark my word, Neyer will not build a spec building in Renaissance.  They will only build based on having a tenant.   
 
This is representative of most developers, in the current economic climate. Only the hottest of the hottest markets are seeing spec construction for commerical office and retail projects.
 
Neyer and the city have applied for another JRS grant during this round.
 
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ground swat View Drop Down
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Points: 367 		Post Options Post Options   Thanks (0) Thanks(0)   Quote ground swat Quote  Post ReplyReply Direct Link To This Post Posted: Apr 17 2012 at 7:07am
Any info. on wonder woman wanting to file a law suit against Neyer?
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Mike_Presta View Drop Down
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Joined: Apr 20 2008
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Points: 3483 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Mike_Presta Quote  Post ReplyReply Direct Link To This Post Posted: Apr 17 2012 at 8:01am
Originally posted by ground swat ground swat wrote:

Any info. on wonder woman wanting to file a law suit against Neyer?

I doubt it…where would she find a lawyer??? LOL LOL LOL
“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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