Kinectrics, Inc., based in Ontario, Canada, has chosen a Neyer Properties-owned building in Sycamore Township for the company’s first U.S. branch office.
Kinectrics signed a five-year lease for the 20,740 square foot building at 7251 E. Kemper Road. It was purchased by Neyer Properties in late 2009 as a vacant building. Neyer made exterior and interior improvements, which helped attract Kinectrics to the building.
Kinectrics is an energy and environmental company that helps large-scale customers like utilities and governments generate, distribute and manage nuclear, hydroelectric and electric power.
It will move into its completed space in April. Scott Abernethy and Jeff Bender of Cassidy Turley assisted with the transaction.
“Kinectrics chose the Cincinnati area based on the city’s central location to our U.S. customer base,” said David Harris, president of Kinectrics. “Other important factors were an excellent lease opportunity, which offered a layout amenable to our service offerings, and easy access to major transportation thoroughfares in the Cincinnati area.”
Kinectrics has provided technical support for major North American utilities for more than 95 years. Its award-winning scientists and engineers have been recognized worldwide for technical excellence in the energy sector.
Adding to its expanding portfolio of commercial buildings, Neyer Properties also recently acquired a fully-leased, 45,000 square foot industrial property occupied by FedEx, which has occupied the Cincinnati facility for 26 years..
The property, located at 7150 Paddock Road, was purchased for $1.6 million. Rod MacEachen and Josh Niederhelman of CB Richard Ellis assisted with the transaction.
The building was constructed in 1994 for FedEx as one of three local distribution centers for overnight packages.
“These purchases continue our drive into acquiring existing buildings in key locations,” said Dan Neyer, president of Neyer Properties. “Our goal for this year is acquire up to $40 million of real estate assets in our region.”
Neyer Properties is a full-service commercial real estate developer specializing in sustainable development, construction management, investment, and redevelopment. The firm celebrates its 15th anniversary this year and invites friends and stakeholders to join its green building community at facebook.com/neyerproperties.