Neyer Properties is in the process of demolishing two antiqued office buildings at its Gateway West Office Park, creating a redevelopment site for up to 350,000 square feet of Class A corporate office. The demolition of Buildings 200 and 300, two five-story office buildings, will allow the site to be more marketable and pad-ready for end-users. The 12-story, 193,000 square foot office tower will remain.
“Demolition of these outdated Class C office buildings allows an end-user to come in and make the site their own,” said Chris Dobrozsi, Vice President of Real Estate Development at Neyer Properties. “It has long been our plan to demolish these properties and with the renewed interest in Queensgate from both the Greater Cincinnati Redevelopment Authority as well as local businesses relocating to the area, the timing is right.” A six acre development site is created with the demolition of these two buildings. Additionally, the site already has significant existing structured and surface parking and is at the main connection point from downtown to Queensgate with visibility from both I-75 and State Route 50.
“Queensgate is one of the largest untapped areas in the City that has incredible potential due to its location immediately west of the CBD,” said Dan Neyer, CEO and President of Neyer Properties. “It is one of the most viable areas within the City for new business development, new jobs, and new housing.” Queensgate is also identified as significant for the revitalization of the overall I-75 corridor.
Neyer’s site offers direct connection to downtown via multiple access points as well as excellent highway visibility, easy access to I-75/I-71, and a strong base of existing office buildings and retail amenities.
Demolition has already begun on Building 200, with demolition scheduled to begin on Building 300 later this month. Neyer purchased Gateway West Office Park in January 2013.
Neyer has been actively marketing the site with the new development plans and has found significant interest in the site from end-users. Scott Abernethy and Digger Daley with Cushman & Wakefield are representing both the development site and the existing 12-story office tower.
In addition, as part of the larger Brent Spence Project, the City is working with Neyer Properties on infrastructure enhancements to provide a seamless “Main Street” connection between Queensgate and the CBD by establishing 8th Street as a two-way boulevard and converting existing one-way streets to two-way streets around City Hall.