CINCINNATI—PBY Partners has just bought a suburban portfolio here with 811,670-square-feet for $34 million from 4600 Smith Road Holdings LLC. The Greater Cincinnati-based PBY now owns the Central Parke Business Park, which includes five office buildings, five flex buildings and one retail building called Grand Central Station, as well as a seven-level parking garage containing 1,400 spaces.
The buildings sit within the City of Norwood, OH, and the Midtown submarket of Cincinnati's metro area. Major tenants of the portfolio include: Cincinnati Bell, Education at Work, Oak Ridge Associated Universities, U.S. Bank, TriHealth, ITT Educational Services, Fitworks and ADT Security Services.
Portfolio owner 4600 Smith Road Holdings LLC was represented by executive managing director Jim O'Connell, vice president Mike Sullivan and executive managing director Tom Powers of Cassidy Turley's Cincinnati capital markets team.
“Cassidy Turley is pleased to have provided a full spectrum of services including leasing, management and disposition in this sales transaction,” says Cassidy Turley's managing principal Doug Bolton. “Going forward, we will continue to provide leasing services for the Central Parke Business Park Portfolio.”
The buildings are located at 4600-4650 Montgomery Rd.; 2100 Sherman Rd.; 4643 Forest Ave.; 4600-4850 Smith Rd.; 2300 Wall St.; and 4600-4750 Wesley Ave.
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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.
