CINCINNATI—Duke Realty Corp. has selected Cassidy Turley to market 17 Class-A office buildings totaling more than 2.3-million-square-feet in suburban Cincinnati, Cleveland and St. Louis.
Cassidy Turley Executive Managing Directors Thomas Powers, and James O'Connell, Senior Managing Directors Michael Hanrahan and Paul Hilton and Vice President Michael Sullivan will lead the capital markets offering. Overall, the portfolio is 92 percent leased with 62 percent of its space occupied by investment grade and/or publicly-traded companies.
"We are targeting both single buyers for the entire portfolio as well as individual buyers for various combinations of properties in this portfolio," Powers said. "Duke Realty has been the leading developer of commercial property in each of these markets for nearly two decades, and the quality of these suburban office properties reflects Duke's experience and reputation.”
The Cincinnati component totals 1.3 million square feet and is 95 percent occupied, with buildings ranging in size from 116,993-square-feet to 404,889-square-feet. These properties include the Towers of Kenwood, a 404,889-square-foot office tower; five buildings at the Centre Pointe office park totaling 638,463-square-feet; and Pfeiffer Woods and Pfeiffer Place, which total 116,993-square-feet and 161,634-square-feet, respectively.
In Cleveland's Rockside Corridor submarket, Cassidy Turley will market 638,004-square-feet at Park Center Plaza and Corporate Plaza. Park Center Plaza includes three five-story buildings totaling 417,733-square-feet. Nearby, Corporate Plaza includes two office buildings totaling 220,271-square-feet.
In St. Louis, the firm will market four Class-A buildings totaling 384,931-square-feet, including two fully-stabilized, single-tenant properties. Located in the South County submarket, Laumeier I, II and IV have a total of 290,925-square-feet. Laumeier I serves as Panera Bread Co.'s corporate headquarters.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
