Thursday, February 11, 1999
INDUSTRY NOTES: REAL ESTATE
New tenants spur growth at Airpark
BY RANDY TUCKER
The Cincinnati Enquirer
Paul Hemmer Cos. and Ashley Development said they have secured two anchors for their joint venture — Airpark Business Center, Phase III, at Airpark International in Boone County.
The two companies said Pan Am International Flight Training Academy has agreed to lease 17,000 square feet of the 334,000-square-foot office and warehouse space to conduct flight-safety training and flight-simulator training for commercial pilots.
DHL Airways Inc. will lease about 19,000 square feet for offices and classrooms.
Hemmer will act as general contractor and leasing agent for the project — a four-building development off Interstate 275, less than a mile from the Cincinnati/Northern Kentucky International Airport.
Since 1994, Hemmer has developed more than 2 million square feet of office and industrial space at Airpark International.
Chicago outfit buys Holiday Office Park
Jupiter Realty Corp. — a Chicago-based national real estate organization — has entered the Greater Cincinnati market with the acquisition of the three-building, 330,000-square-foot Holiday Office Park at Linn and West Eighth streets.
Jerry Ong, Jupiter's executive vice president, said the company plans to make a sizable investment in the office-park complex, including enhancements to facades, parking structures, surface lots and common areas.
Jupiter is a privately held, multifaceted firm with a $1.5 billion diversified real estate investment portfolio that includes hotels, office buildings, industrial facilities and shopping centers.
Mr. Ong said the company is considering other real estate investments in Cincinnati.
Duke Cincinnati groups both report growth
Duke Realty Investments said its Cincinnati Office Group brokered 50 new leases, expansions and renewals, totaling more than 220,000 square feet in the fourth quarter last year.
During the three months that ended Dec. 31, the office group signed 97,423 square feet of new leases and expansions and 122,862 square feet of renewals.
Duke's Cincinnati-area industrial division — Cincinnati Industrial Group — brokered 24 new leases, expansions and renewals, totaling more than 528,000 square feet.
The industrial group signed 460,000 square feet of new leases and expansions, and 67,985 square feet of renewals.
Realtors president returns for 2nd stint
Star One President George Meinhardt has been elected president of the Cincinnati Area Board of Realtors for 1999.
Mr. Meinhardt joined the board in 1964 and has been a member of its board of directors since 1995. He is serving his second term as president, a post he held previously in 1982.
Mr. Meinhardt is only the second man to be elected to a second term as president of the board. The first was the late Joseph Mathias, who served consecutive terms in 1942 and 1943.
Classic Beetle selling briskly
Firm uses Net to match cargo
Job market absorbs Brazos workers
FRCH may move into former Lazarus
Tide with bleach now kills germs
Local airport little affected by sickout
Internet drug sales worry Ohio medical officials
TRISTATE MARKET SPOTLIGHT
INDUSTRY NOTES: REAL ESTATE
COMMERCIAL REAL ESTATE
