The Christ Hospital has signed a 15-year master lease with Neyer Properties at Neyer’s Red Bank Crossing Development.
Valued at over $22 million, the lease includes two medical office buildings and a retail center. Christ currently has several offices within the development including a diabetes and endocrine center, imaging center, and urgent care. The lease encompasses 80,000 square feet.
“The master lease is part of The Christ Hospital Health Network’s long-term commitment to the Red Bank Corridor and to making our services more convenient for our patients and their families,” said Jim Gray, executive director of facilities and real estate. “The buildings at Red Bank Crossing complement several medical, surgical and physical therapy offices along Red Bank Expressway that we have developed in recent years to help our patients meet their healthcare needs closer to home.”
This additional investment and commitment by Christ Hospital reinforces the Red Bank corridor as an excellent corridor for medical and other professional office and retail establishments, states Dan Neyer, CEO of Neyer Properties. In just over 10 years the amount of development in this corridor has exceeded over $100 million with more development to come.
Neyer Properties recently purchased another Red Bank Road property, located at 3960 Red Bank Road. Located near Cincinnati Sports Mall, the 40,000 square foot facility has space available to lease on both the first and second floor.
In 2001, Neyer Properties and the city of Cincinnati formed an economic development partnership to create the Red Bank Crossing development, transforming a weed-filled, Madisonville lot valued at $100,000 to the $25 million, medical campus and mixed-use retail development. An estimated 400 jobs has been created by Red Bank Crossing. Red Bank Crossing offers access to I-71 and U.S. 50, as well as Erie Avenue and Madison Road.