The Christ Hospital Imaging Center has signed a 10-year lease valued at $2.5 million at Neyer Properties’ newly-completed Red Bank Crossing II.
The 30,000 square foot building is part of the five-building, $25 million Red Bank Crossing medical campus and mixed use retail development in Madisonville.
The lease includes nearly 15,000 square feet, the entire first floor of the building. A ribbon-cutting for the entire Red Bank Crossing development was held in late August.
“With this new lease, Red Bank Crossing II will be 65 percent occupied,” said Dan Neyer, president of Neyer Properties. “Having the right building in the right market continues to drive our success—even during difficult times.”
Red Bank Crossing II sits on 12.5 acres on Red Bank Road near the Red Bank Expressway intersection. It is between the Goddard School and Red Bank Crossing I, a fully-leased medical complex.
The Goddard School opened in May. It offers an extended day-care program for children ages six weeks to six years old.
Tenants in an adjacent retail center on site include Huntington Bank, Penn Station, and Beat Personal Training.
Red Bank Crossing offers access to I-71 and U.S. 50, as well as Erie Avenue and Madison Road. Red Bank Crossing II is the second commercial building in the city of Cincinnati to be approved for Leadership in Energy and Environmental Design (LEED) tax abatements.
The first in the tri-state is the $100 million Keystone Parke in Evanston, where Neyer Properties is now headquartered. LEED-certified, green office buildings save tenants from 20 to 30 percent of their energy costs.
Neyer Properties purchased the 12.5 acre Red Bank Crossing site from the city of Cincinnati in 2001. It built its first building to house the Gorilla Glue Company in 2003. The city of Cincinnati made $2 million in road improvements to Red Bank Expressway as part of an economic development partnership with Neyer.
Red Bank Crossing has created 400 new jobs for Madisonville, and increased the real estate value of the site from $100,000 to $25 million.