Neyer Properties has recently acquired three commercial properties, the Cincinnati real estate investment, land development and commercial development company has announced.
The properties consist of a multi-tenant commercial building at 1761 Tennessee Avenue in Cincinnati; the DSW building at 8834 Governors Hill Dr. in Cincinnati; and a 4-acre land parcel in at Mall Road and Heights Boulevard in Florence, Kentucky.
The 28,350 square foot Tennessee Avenue building is fully leased with three tenants; the 20,790 square foot DSW building houses a DSW Shoe store; and the Florence site is in the planning stages to be developed into a retail project along Mall Road.
“We are fortunate to be in a position to secure financing for acquisitions such as these in these times,” said Dan Neyer, president of Neyer Properties. “We are positioned to acquire up to $50 million of existing properties in 2009 based upon our track record for success and the strength of our balance sheet.”
Neyer said he sensed that the real estate market was overheating a few years ago, and began taking steps to complete existing land development projects, secure long-term financing, and increase the company’s cash position.
“Neyer Properties can continue to obtain loans through banks we have strong relationships with,” he added. “We are actively looking for certain acquisitions or redevelopment opportunities.” Neyer Properties is located at the $100 million Keystone Parke, the tri-state’s first green office campus. The 68,000 square foot building is the first of four planned for its Evanston campus at I-71 and Dana Avenue.
Keystone Parke recently attained LEED® (Leadership in Energy & Environmental Design) Silver status. LEED is the U.S. Green Building Council’s leading rating system for designing and constructing the world’s greenest, most energy efficient, high-performing buildings.
The LEED system provides independent, third party verification of environmental performance, occupant health and financial return.
For more information about Neyer Properties, go to www.neyer1.com or call (513) 563-7555.