Cornell Center
Cornell Center is a 90,000 square foot, five-story
Class A office building located in Blue Ash, Ohio.
In 2003 Neyer Holdings Corporation assumed the asset
management of Cornell Center which had historically
enjoyed low vacancy, but was now facing the announced
exit of several key tenants which left the building
with a gaping 40% vacancy.
Facing a soft office market with new competition
coming on-line, Neyer Holdings Corporation set an
aggressive leasing program into motion. These
efforts resulted in successful leasing to a purposefully
balanced mix of small and large, local and national
tenants -- driving the occupancy of the building
from 60% to 95% in a ten-month period.
Now having been stabilized, the building was in perfect
condition to be either held for long-term cash flow
or sold into an aggressive market. After a thorough
analysis, the latter course was adopted and the asset
was successfully and divested in 2006. |
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