X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WEST CHESTER, OH-Humana Inc. has leased a specially-designed section in a 282,000-sf building here in Park 75, a section of Opus North’s Union Centre II, an industrial multi-tenant development here. The company took half the building, but lengthwise, with the width about 220 feet, says Colliers Turley Martin Tucker broker Dave Noonan. “They needed a narrow building, so both the tenant and the owner paid for the expense of changing the space,” he tells GlobeSt.com. The 10-year lease rate will be higher than the $3 per sf asking rate because of the changes, he says.

Noonan says the company needed a narrow building section for its business-to-business pharmaceutical storage and distribution. The company is only using 60,000 sf for the drug fulfillment, and 80,000-sf for a call center. “Unlike most of our other distribution tenants, Humana needed to accommodate a large staff, so we reconfigured Park 75′s layout to offer more parking spaces by reducing truck docks, and include a larger office build out,” said Bill Chester, real estate director in Opus’ Cincinnati office, in a statement.

Noonan says the company needed a narrow space for its work. “They also liked the location, it’s the perfect place for distribution. There’s multiple ways of getting to Interstate 75 and 275, it’s a great place to get product out,” he says.

The building is 100% occupied, as W. A. Wilde Co. leases the remaining half of the property. The marketing firm has a five-year lease, Noonan says. In the short time since the lease, Opus has sold the building for more than $17 million to one of its funds, he says.

The area is doing well, with strong occupancy, Noonan says. “Park 75 consists of two buildings, including this building and another, 428,000-sf property that’s occupied by Dell Computer,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.