A joint venture managed by Smith/Hallemann Partners has purchased a five-building office portfolio for $97.5 million from Duke Realty Corporation according to a Cincinnati.com article. The portfolio includes two Cincinnati Class A buildings with about 609,275 square feet of space and three Nashville Class A buildings covering around 379,264 square feet. Duke Realty is reportedly repositioning its portfolio with these disposals and has exited certain markets in an attempt to concentrate in areas where it already has a strong presence. The JV includes individual investors and a fund managed by Harbert Management Corporation.
The Nashville properties include a three-building plaza near the airport and known as One, Two and Three Lakeview Place in the Century City Office Park. Current tenants of the plaza include Thomas Nelson Publishers, CNA Insurance, Vista-Pro, Amerigroup and Hartford Insurance. The Cincinnati properties includes The Enquirer Building and an additional building in the city's central business district; tenants include Mitsui Marine, The General Services Administration and Harland Financial Solutions.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment