Neyer Opens Office in Park, Ups Plan to $110M

CINCINNATI-Locally based Neyer Properties has opened the first building, a 69,000-sf office tower, in its Keystone Parke complex. Another three buildings are planned, for a total of 500,000 sf, and a cost of about $110 million.

The company took space in the building, at 2135 Dana Ave. here at the park, which is just off of Interstate 71. There’s another tenant in the building, Hyde Park Medical Associates, which is on the second floor of the four-story facility. The developer is in talks with other tenants now to just about fill the building. “We’ve signed a letter of intent for another 25,000 sf user, and have four pending RFP’s out there,” says Dan Neyer, president of the self-named firm.

His firm broke ground in November 2006 on the park, and had planned to only have three buildings with up to 460,000 sf. However, another tenant approached the firm for some space. The American Red Cross has signed a lease to take an entire 50,000-sf office building, which Neyer will start work on next. “We had purchased an additional land parcel, and it just worked out well once we added the Red Cross,” Neyer says. The lease rates will range from $16.50 to $17.50, net, he says.