East Point Office Building Sold for $6M

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Printed Date: Aug 03 2025 at 10:26am

Topic: East Point Office Building Sold for $6M

Posted By: John Beagle
Subject: East Point Office Building Sold for $6M
Date 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!

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http://www.johnbeagle.com/" rel="nofollow - John Beagle

Middletown USA

News of, for and by the people of Middletown, Ohio.

Replies:

Posted By: chmoore1
Date Posted: Apr 16 2012 at 12:08pm

John: where is this? Middletown? West Chester? or where? Thanks. chmoore

Posted By: Vivian Moon
Date 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.

Posted By: Bill
Date Posted: Apr 16 2012 at 1:56pm

Another sign that Neyer is bailing on the dismal 122 interchange.

Posted By: swohio75
Date 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:

http://www.bizjournals.com/dayton/print-edition/2011/08/12/clark-schaefer-to-open-office-at.html?page=2 - http://www.bizjournals.com/dayton/print-edition/2011/08/12/clark-schaefer-to-open-office-at.html?page=2

Posted By: SupportMiddletown
Date Posted: Apr 17 2012 at 12:25am

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.

Posted By: ground swat
Date Posted: Apr 17 2012 at 7:07am

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

Posted By: Mike_Presta
Date Posted: Apr 17 2012 at 8:01am

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???

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“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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