REO Sale | Park Center V Office

Strategic Location with Strong Demographics: The property is located along the growing I-75 corridor, the fastest growing corridor in the State of Ohio. It is situated at the intersection of the I-75 corridor and I-70 between Indianapolis and Columbus, with easy access to northern tertiary markets. With the growth of Cincinnati and the eventually merger of the Cincinnati and Dayton MSAs, the asset is well located among the OH-KY-IN region.

Investor or User Opportunity:  Given the current occupancy of Park V at just over 17% occupied, this offering can deliver appeal to a value-added investor seeking to reposition the asset with an aggressive leasing plan or a user that can occupy the asset for its own use while leasing space to area tenants to offset the occupancy cost of operating a headquarters building. At either option, the asset is anticipated to trade dramatically below replacement costs of a comparable asset, delivering a built-in price point advantage to ownership.

Airport Growth Driving Demand: Park V is one of the most proximate office buildings to the Greater Dayton Airport allowing tenants quick access to one of the fastest growing airports in the region. The amount of industrial and commercial growth that has occurred around the Greater Dayton Airport has been nothing short of amazing to observe. In prior years Dayton lost out on opportunities that gravitated to Cincinnati, Columbus or Indianapolis but not anymore. Abbott Labs, Semcorp, Joby Aviation,Fuyao Glass America and Honda have all anchored major stakes in the Dayton region which will undoubtedly push office demand as vendors seek to get close to these major company installments. These companies alone are scheduled to deliver over 6,300 new jobs to the market. And this does not include the Intel Columbus chip factory and their projected 3,000 new jobs to Columbus.

Auctioneer: Thomas Seaman

Auctioneer License: 2007000016