302 West Third, Cincinnati, OH 302 West Third, Cincinnati, OH

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CINCINNATI, OH—New York City-based Time Equities Inc. has addedthe 302 West Third office building here to its portfolio ofindustrial and multifamily properties in the region.

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302 West Third, built in 1915 and renovated in 2001 and 2016,consists of nine stories and 177,624 square feet. Current tenantsat the landmarked property include Al Neyer, Inc.; Baxter HodellDonnelly Preston, Inc.; Immedion, LLC; Musillo Unkenholt, LLC andGrey Advertising.

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The deal for 302 West Third marks Time Equities' third acquisition in theTri-State Region over the last two years. Other notable regionalacquisitions include Brookside Industrial Park in Indianapolis andthe Arbor at Montana Apartments in Cincinnati.

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No financial details of the transaction were disclosed.

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The acquisition was led by Max Pastor, TEI's director ofacquisitions and senior counsel, and Brian Soto, director ofacquisitions and asset management for Time Equities. A Cushman& Wakefield team, led by Michael Sullivan, represented theseller, an affiliate of HighBrook Investors of New York City.

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"Our expansion within region has been well documented as werecognize the region's favorable market fundamentals, resiliencyand ability to weather future risks we anticipate to be exacerbatedby climate change," TEI's Pastor says. "To that end, we are verybullish on Greater Cincinnati and the cities surrounding it andplan to remain active in purchasing value-add assets that alignwith our sustainable long-term investment strategy."

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TEI states that its business plan is to further enhance theproperty to position the building as the best-in-class destinationfor creative and traditional tenants seeking modern loft-like workspaces.

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"At 302, we are beginning with an almost completed canvas withthe current tenants having attractive, modern buildouts." Sotonotes. "We look forward to additionally enhance the property bymaking selective improvements to the current building amenitiesproviding our existing and new tenancy with upgraded conferencefacilities and a tenant amenity center."

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Last week, brokerage firm JLL reported that Time Equities hadacquired the Hamilton Commons retail power center in Mays Landing,NJ for $60 million.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.