KAMCO, 90 North Make $107M Cincy Buy

GE has signed a 15-year lease and uses the trophy property for a global operations center.

CINCINNATI, CHICAGO—KAMCO Investment Co., a leading investment company in Kuwait, has just acquired the newly completed 12-story, class A office building in downtown Cincinnati that houses GE’s global operations center, one of just four such facilities across the world. KAMCO was advised in the transaction by the Chicago office of 90 North which also has a stake in the investment and will serve as asset manager. The sale price was approximately $107 million.

The trophy property totals 339,678 square feet and sits in the heart of the development known as The Banks, between the Cincinnati Bengal Stadium and Great American Ballpark, home of the Reds. GE has signed a 15-year lease and has options for the space for an additional 25 years. It took occupancy of the space last month.