Commercial real estate activity gained momentum in the first quarter of 2012, helping fuel 1.3 million square feet in leasing transactions by Duke Realty Corporation‘s Cincinnati office during the period. Interest in both Duke Realty’s industrial and office properties was strong, with numerous companies signing new leases, renewals, and expansions.
“We are extremely pleased with the activity in the market so far this year and are gratified that so many outstanding companies have chosen Duke Realty properties,” said Jon Burger, senior vice president of Duke Realty’s Cincinnati operations. “In addition to a strong volume of leasing activity, we were particularly encouraged by the 100 percent lease up of our Centre Pointe Office Park in West Chester and renewed interest in the Mason submarket, where we have several buildings.”
At Duke Realty’s Centre Pointe Office Park, General Electric signed a new 21,926-square-foot lease in Centre Pointe II, which exhausted all available space in existing buildings in the development. However, Duke Realty has two remaining parcels of land in the West Chester submarket, both of which are ready for build-to-suit development. The available land includes a 15-acre parcel in South Pointe at Union Centre along Interstate-75 and an 18-acre site at North Pointe at Union Centre adjacent to GE Aviation along Union Centre Boulevard. Both of these sites can accommodate up to 300,000 square feet of Class-A office buildings.
Duke Realty also signed leases for more than 45,000 square feet in the Mason submarket. At 8650 Governor’s Hill, GE signed a new, 20,047-square-foot lease, while Summit Funding Group signed a new 17,504-square-foot lease at 4680 Governor’s Pointe.
Wayne Hach with Cincinnati Commercial Realtors represented GE, and George Stinson with Sperry Van Ness represented Summit Funding Group in their transactions. Other activity in the Mason submarket included leases with Track One Background Solutions, GP Strategies Corporation and HP Hood, LLC totaling 5,793 square feet at 4770 Governor’s Pointe.