Saturday, March 24, 2001
Hamilton touts space for work
By Earnest Winston
The Cincinnati Enquirer
HAMILTON Faced with the likelihood of yet another empty commercial building when Mercy Hospital Hamilton folds June 1, city and business officials are trying to infuse revenues back into city coffers.
They're marketing the Ohio Casualty and former International Paper Knightsbridge administrative complex buildings.
Thursday, city and business leaders, as well as real estate and Greater Hamilton Chamber of Commerce officials, led potential users on a tour of both facilities.
What we're trying to do today is comparable to when you're trying to sell a house, said Tim Bigler, who directs Hamilton's economic development department.
It's pretty obvious ... we need to reinfuse the city with some income tax revenues. Basic services could eventually be affected if we don't start getting some bodies and some revenues back into those facilities, he said.
Hundreds of jobs have been cut by Ohio Casualty Group and the former International Paper Co. over two years, draining the city's general fund revenues which pay for emergency services and parks and recreation.
Ohio Casualty, which still has an estimated 250 employees in the 428,000-square-foot complex on North Third Street, wants to sell the building but remain as a tenant, Mr. Bigler said. The asking price is $13 million.
The 366,000-square-foot former Champion International Corp. Knightsbridge complex is due to close by year's end. The asking price is $25 million.
According to Fred Macke, senior vice president at Grubb Ellis/West Shell Commercial, there are 30 potential buyers for the Knightsbridge complex.
Other efforts to market both facilities include mass mailings of informational packages to potential buyers and a plan to work with Realtors.
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