Fischer Homes has signed a 7-year lease with Neyer Properties at Olympic Corporate Center I in Erlanger, Kentucky. The lease includes approximately 40,000 square feet spread throughout the five-story building.
Fischer Homes is relocating and consolidating from its design center space in Highland Heights and office in Crestview Hills. Jim Rahe of Cincinnati Commercial Realtors and Josh Gerth and Todd Pease of Jones Lang LaSalle assisted in the transaction.
Neyer acquired Olympic Corporate Center I in July, 2012. Located along I-275 near the Cincinnati/Northern Kentucky International Airport, the 88,000 square foot building was 60 percent occupied when purchased; Fischer’s lease brings the occupancy to around 85 percent.
“We chose Olympic Corporate Center because of the convenience of the location to the Greater Cincinnati highways and the Airport,” said Greg Fischer, Executive Vice President of Fischer Homes. “The refreshed building finishes, efficient space layout, opportunity to expand and reasonable rents also led us to select Olympic Corporate Center.”
Neyer is in the process of making several improvements and renovations to the property, including the modernization of the lobby, restroom and corridors The building has always had an excellent structure and history, states Dan Neyer but since it was built in the late 1980’s the mauve, brass and 2” square tiles in the restrooms that was prevalent during this time period needed to be changed with high quality modern finishes to be with the times.
Neyer has also recently signed a lease with Wolverine Packaging to occupy space on the third floor. Additionally, Dole Fresh Fruit expanded its current footprint within the building since the building has come under Neyer’s ownership. Just under 13,000 square feet remains available in the building.
The commercial real estate and development company is actively seeking acquisitions in greater Cincinnati as well as Columbus, Indianapolis, Louisville and Lexington. It seeks to purchase and redevelop another two million square feet over the next two years.