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537,400-SF Cincinnati Tower Sells for $93M

CINCINNATI-Triple Net Properties acquires 250 East Fifth St., a 29-story office tower, in a transaction that closed Oct. 25.

By Danielle Anderson | Updated on October 27, 2006

CINCINNATI-Triple Net Properties LLC acquired 250 East Fifth St., a 537,400-sf office tower in the city’s central business district. The purchase price was $92.75 million, a company spokesperson tells GlobeSt.com. The 29-story building was purchased from TAG 250 Cincinnati LLC on behalf of Triple Net Properties’ tenant in common investors in a deal that closed Oct. 25.

The class A building, which is 78% leased, has undergone significant renovations and upgrades since 1999. These improvements have concentrated on the public areas, such as the plaza, lobby and four-level, 489-space parking structure. The building is adjacent to Proctor & Gamble’s global headquarters and connected to the Cincinnati Skywalk system, which links major Downtown buildings with a series of enclosed bridges and passageways. The building’s current tenants include Chiquita Brands LLC and Deloitte & Touche.

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