Friday, August 15, 2008
Business Courier of Cincinnati - by Jon Newberry Staff Reporter
Two mixed-use office and retail developments along the busy Red Bank Road corridor have picked up key occupants in recent months. Reisenfeld & Associates, a law firm currently located on Reading Road just north of downtown Cincinnati, is building a two-story, 38,000-square-foot building at Miller-Valentine Group’s Red Bank Village in Fairfax.
It will be the second office building at the site and is expected to be completed by the end of the year. The first office building at the complex, adjacent to Reisenfeld’s, was recently completed.
Business Courier of Cincinnati - by Jon Newberry Staff Reporter
Two mixed-use office and retail developments along the busy Red Bank Road corridor have picked up key occupants in recent months. Reisenfeld & Associates, a law firm currently located on Reading Road just north of downtown Cincinnati, is building a two-story, 38,000-square-foot building at Miller-Valentine Group’s Red Bank Village in Fairfax.
It will be the second office building at the site and is expected to be completed by the end of the year. The first office building at the complex, adjacent to Reisenfeld’s, was recently completed.
Reisenfeld has tripled in size over the past three years and also acquired the Sojourners Title agency. The agency will also be relocating to Red Bank Village. Brad Reisenfeld said the firm will own the building and conducted an employee survey before settling on the site.
“It’s the perfect location for us. It’s a very central location and an up-and-coming area,” he said, citing easy highway access and a desire to work with Miller-Valentine as key factors.
The office buildings are part of a larger project anchored by a proposed Wal-Mart Supercenter that’s being developed by Regency Centers Corp. The Wal-Mart was announced in 2006, but its opening was pushed back to 2009. Construction likewise has yet to get under way on a planned 30,000-square-foot retail strip center and on three available retail outlots along Red Bank Road.
Red Bank Village is at the southern end of Red Bank, about nine miles from downtown via Columbia Parkway.
Neyer Properties also has been adding buildings and tenants at Red Bank Crossing. A Goddard School day-care center recently opened in a single-story, 10,000-square-foot building that lies to the south of a two-story, 30,000-square-foot office building that’s just been completed. The first, 40,000-square-foot office building on the site was completed a couple years ago and is fully leased to medical and health-related tenants.
Jeff Chamot, project manager for Neyer, said the newest office building is a LEED-certified “green” building and, as such, affords tenants a 100 percent tax abatement for 12 years from the city of Cincinnati.
The environmental design also reduces utility costs by about 20 percent, he said, and studies indicate that people who work in green buildings are more productive, use fewer sick days and are happier at their jobs.
All the monetary benefits flow directly to the tenants since they’re responsible for property taxes and operating expenses, Chamot said.
Tenants have been attracted to the project because of the location and the 30,000 cars a day that use the Red Bank Expressway, he said. Red Bank runs between Wooster Pike/Columbia Parkway on the south end, to Interstate 71 on the north, with major intersections at Erie and Madison Road in between.
“I’ve always thought of it as the East-North connector,” Chamot said.
Red Bank Ready
Projects: Red Bank Village, Red Bank Crossing
Costs: More than $15 million
Developers: Red Bank Village Office LLC, Neyer Properties
CMs: MV Construction, NPI and Reece-Campbell
Architects: McGill Smith Punshon, PSA
“It’s the perfect location for us. It’s a very central location and an up-and-coming area,” he said, citing easy highway access and a desire to work with Miller-Valentine as key factors.
The office buildings are part of a larger project anchored by a proposed Wal-Mart Supercenter that’s being developed by Regency Centers Corp. The Wal-Mart was announced in 2006, but its opening was pushed back to 2009. Construction likewise has yet to get under way on a planned 30,000-square-foot retail strip center and on three available retail outlots along Red Bank Road.
Red Bank Village is at the southern end of Red Bank, about nine miles from downtown via Columbia Parkway.
Neyer Properties also has been adding buildings and tenants at Red Bank Crossing. A Goddard School day-care center recently opened in a single-story, 10,000-square-foot building that lies to the south of a two-story, 30,000-square-foot office building that’s just been completed. The first, 40,000-square-foot office building on the site was completed a couple years ago and is fully leased to medical and health-related tenants.
Jeff Chamot, project manager for Neyer, said the newest office building is a LEED-certified “green” building and, as such, affords tenants a 100 percent tax abatement for 12 years from the city of Cincinnati.
The environmental design also reduces utility costs by about 20 percent, he said, and studies indicate that people who work in green buildings are more productive, use fewer sick days and are happier at their jobs.
All the monetary benefits flow directly to the tenants since they’re responsible for property taxes and operating expenses, Chamot said.
Tenants have been attracted to the project because of the location and the 30,000 cars a day that use the Red Bank Expressway, he said. Red Bank runs between Wooster Pike/Columbia Parkway on the south end, to Interstate 71 on the north, with major intersections at Erie and Madison Road in between.
“I’ve always thought of it as the East-North connector,” Chamot said.
Red Bank Ready
Projects: Red Bank Village, Red Bank Crossing
Costs: More than $15 million
Developers: Red Bank Village Office LLC, Neyer Properties
CMs: MV Construction, NPI and Reece-Campbell
Architects: McGill Smith Punshon, PSA
