CBRE sells manufacturing facility on 35-acres in Blue Ash

25 Jun 2018

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CBRE has sold a vacant, 153,000-square-foot industrial facility in Blue Ash after receiving multiple offers. CBRE’s Tim Schenke and Doug Whitten, both senior vice presidents, and Brad Root were engaged by the owner, Parker Hannafin, to sell the property, located at 4440 Creek Road.

Within the first month of marketing the building, the team secured four solid offers for the ownership to evaluate. CBRE then had a call for best and final offers and narrowed in on the two best candidates to maximize pricing and eliminate any uncertainty of a possible buyer re-trade. Graphic Village, a print marketing solutions provider, purchased the building and will make it their new headquarters.

The property was used for years by United Air Specialists and was highly sought over given the excess acreage, campus feel, heavy power, open warehouse design with good clear height and being in close proximity to four major highways.

“This was a win-win for all sides involved. Blue Ash has a new, growing company taking over and modernizing an aging facility,” said Mr. Schenke. He went on to describe the Creek Road disposition as a fulfilling project for his team.

Mr. Schenke explained that due to the lack of quality industrial buildings for sale in the market, the CBRE Cincinnati industrial team sees strong demand from growing, entrepreneurial companies that want to grow and own their real estate in the thriving Cincinnati marketplace.

“It’s a great time to be an owner of a well located and functional industrial asset. There is an insatiable demand for this type of product,” he said.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.