CBRE’s John Eckert, Scott Yards and Travis Likes​ recently negotiated the sale of three downtown Cincinnati parking garages.
The three parking garages, located on 609 Elm St., 36 E. 7th St. and 605 Plum St. were purchased by LAZ Parking Realty Investors and include a total of 2,310 parking stalls.
The parking garage at 609 Elm St. includes 680 parking stalls and 2,400 square feet of street level retail space. The parking garage at 36 E. 7th St. includes 749 parking stalls on 13 levels and 30,444 square feet of retail and office space. The 12-story Class-A office building situated above the garage was not part of the sale. Collectively, the two parking garages sold for $24 million.
The garage at 605 Plum St. includes 890 parking stalls on five levels and 7,800 square feet of street-level retail space. The price of this parking garage was not disclosed.
The three-garage portfolio is the first purchase in the Cincinnati market for LAZ Parking Realty Investors.
