Positive Leaps

New Lease @ Beechwood Square – Cincinnati, OH

Select Strategies announces the lease of A Haven for Kids dba Positive Leaps at Beechwood Square located in Cincinnati, OH.
Positive Leaps is day treatment center for very young children (18 months – 8 years). In addition to the day treatment center, Positive Leaps will also offer outpatient counseling services for children at their Beechwood Square location. The center will provide the flourishing North Anderson Township, Union Township and Eastgate areas with needed services for young families.
Beechwood Square is a 26,400 SF center that is located at the intersection of State Route 32 and Beechwood Road in Cincinnati, OH. Other tenants include the VA Medical Center and Dialysis Clinic Inc.
There are only a few additional leasing opportunities @ Beechwood Square ranging from 1,500 SF to 3,500 SF.
To find out more about leasing opportunities at Beechwood Square – click here.

american-flag

Annual VA Cookout at Beechwood

June 29, 2016

The weather was picture perfect and so was the food!  On Wednesday, June 29th, Select Strategies Realty honored the medical professionals who care for our nation’s veterans by preparing and serving lunch to them at our Beechwood VA location.

This is the 6th year that Select has organized the luncheon and it’s become a favorite annual event for those in the corporate office.  “It’s the least we can do to show that we appreciate the hard work and dedication these doctors and nurses put in each day to help care for our nation’s veterans,” said Select Strategies CEO, Brian Neltner.  Select Strategies Realty looks forward to many more years of giving back to the VA community.

Beechwood Square is a 26,400 SF center that is located at the intersection of State Route 32 and Beechwood Road in Cincinnati, OH.

Learn more about leasing opportunities at Beechwood Square.

Fortune 500 company plans distribution hub near CVG

CVG

EXCLUSIVE: Fortune 500 company plans distribution hub near CVG

SUBSCRIBER CONTENT:
May 26, 2016,  1:29PM EST

A Fortune 500 commercial fleet and management, dedicated transportation and supply chain solutions company is planning a distribution hub near Cincinnati/Northern Kentucky International Airport.

Ryder Integrated Logistics Inc., part of Ryder System Inc., is considering opening a new logistics facility in Hebron that will serve as a distribution hub for national retail brands, according to a report released by the Kentucky Economic Development Finance Authority. The total investment in the building and improvements would be $3 million and the facility would create 90 jobs.
Officials with Ryder (NYSE: R) were not immediately available for comment.

Under the proposed project, Ryder Integrated Logistics would spend $3 million on building / improvements. The new jobs would pay an average hourly wage, including benefits, of $18.

According to a project description, Ryder is one of the largest logistics companies in the country, leasing trucks and serving as a third-party logistics provider. An exact address for the new logistics facility was not included in the report.

Ryder Integrated Logistics’ proposed project received preliminary approval for a tax incentive of $500,000 over 10 years from the Kentucky Business Incentive program for building / improvements.

Ryder is a Miami-based provider of transportation and supply chain management solutions to small businesses and large enterprises worldwide. The $6.6 billion company operates three business segments – fleet management solutions, supply chain solutions and Ryder Dedicated. Ryder has more than 33,000 employees, 231,900 vehicles managed and more than 275 warehouses with more than 40 million square feet managed globally.

Tom Demeropolis Senior Staff Reporter Cincinnati Business Courier

 

 

Wesmark - Burkes

EXCLUSIVE: Cincinnati real estate company acquires $60M portfolio

EXCLUSIVE: Cincinnati real estate company acquires $60M portfolio

SUBSCRIBER CONTENT:
Feb 22, 2016, 2:41pm EST

A Greater Cincinnati real estate investment company purchased a six-property shopping center portfolio for $60 million. Select Strategies Retail Holdings IV LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, purchased the shopping centers in Ohio, South Carolina and Missouri from New York investment firm Garrison Investment Group at the beginning of February. The affiliate is

made up of a group of investors including the
principals of Select Strategies Realty, who are the managing principals of the limited liability company. In total, the 870,000-square-foot portfolio was about

95 percent occupied at the time of the sale.
Brian Neltner, CEO of Select Strategies Realty, said the portfolio will be getting about $40 million in upgrades.

“Every one of these has a significant redevelopment opportunity,” Neltner told me.

Some of the potential upgrades include undeveloped outlots, available acreage for new development and bringing new tenants into the centers.

The shopping centers included in the purchase are the 101,300-square-foot Mayfair Shopping Center in St. Louis, the 125,000-square-foot Cross Pointe Shopping Center in Dayton, a 17t200-square-foot Kmart Plaza in Brunswick, Ohio, the 216,200-square-foot Wesmark Plaza in Sumter, S.C., the 138,500- square-foot West Market Plaza in Akron, and the 117,600-square-foot Westerville Plaza in Columbus.

Select Strategies Realty is a privately held real estate investment company that specializes in the development, acquisition, management and leasing of retail and mixed- use real estate in the Midwest and Southeastern U.S. Select has sponsored retail investments totaling more than $100 million and provides management and leasing services for more than 4.5 million square feet of retail space.

Neltner said the group acquired these properties because it is familiar with the individua I properties and their retail trade areas.

“We know these markets welL” Neltner told me. “We have boots on the ground.”

Reynolds Thompson, chairman and chief investment officer for Select Strategies Realty, said the firm combines an operator’s perspective with investment experience.

“This portfolio is an excellent example of how a disconnect exists between the investment community’s perception of risk in these assets and the risk we believe to be reality,” Thompson said.

Select Strategies Realty formed its Select Retail Advisors program in 2015 to pursue investment opportunities on behalf of the firm’s principals and investment partners. Plans for Select Strategies Retail Holdings V are underway.

Alliance Real Estate provided Select Strategies Retail Holdings IV with investment advisory services, including the sourcing of equity and debt capital for the deal. Alliance is a privately held investment management firm specializing in real estate investment management and advisory services for the family office community to whom it provides customized real estate portfolios delivered with flexibility, control and institutional-quality oversight.

Founded in 2005, Select Strategies Realty has offices in Atlanta and Macon, Ga.; Birmingham, Ala.; Beaufort, S.C.; Greensboro, N.C.; Orlando and Deerfield Beach, Fla.; Columbus; Youngstown, and Fort Thomas. The 30-employee firm manages and leases retail assets in 10 states as well as office and multifamily properties in Ohio and Kentucky.

Tom Demeropolis Senior Staff Reporter Cincinnati Business Courier

map of rivers pointe

EXCLUSIVE: $1 billion residential community getting started along Ohio River

EXCLUSIVE: $1 billion residential community getting started along Ohio River
Aug 5, 2015, 11:57am EDT

Tom Demeropolis

Senior Staff Reporter
Cincinnati Business Courier
The site plan the Reserve at Rivers Pointe, the first portion of the larger master planned community.

This aerial image shows where the Reserve at Rivers Pointe will be built. Construction on the first two homes is expected to start this fall.

The site plan for Rivers Pointe Estates, a nearly 400-acre, master-planned community with views of the Ohio River.

The site plan for Rivers Pointe Estates, a nearly 400-acre, master-planned community with… more

After a quarter of a century of assembling land and weathering the nation’s roughest recession, Toebben Builders is finally getting started on the $1 billion Rivers Pointe Estates community in Hebron.
John Toebben, president of Crescent Springs-based Toebben Builders, said the community is starting with a first phase that includes eight river-view home sites called the Reserve.
“It’s been a long endeavor,” John Toebben told me. “But these homes will have the best views of the river.”
Even though the builder is just now marketing the first phase, Toebben said two home sites have been pre-sold.
“Housing is definitely getting better,” Toebben said. “We’re seeing a lot of interest.”
Each of the eight lots at the Reserve is between two and three acres, with walk-out lower levels. Homes at the Reserve will start in the $650,000 range. Toebben said homes must be a minimum of 3,000 square feet on the first level, with a three-car garage.

The rainy spring and summer delayed putting in the main road to the Reserves by a few weeks, but it opened to traffic at the beginning of August. The builder is working on landscaping and preparing the site. Potential buyers, many who have been tracking the development for some time, are taking notice.

“We’re getting a lot of traffic through and a lot of phone calls,” Toebben said.

Toebben expects to break ground on the first two homes in the Reserve this fall. It will allow other builders to construct homes there, but builders will have to meet architectural design standards and criteria. Homes in the community will be more mountain style, Toebben said, with elements of large timber frame construction, with lots of brick and stone on the exterior.
“The lots are so large, there is so much opportunity for something other than four square corners,” he said.
In total, the 380-acre Rivers Pointe Estates is a master-planned community with seven different types of housing, including apartments, townhomes, landominiums, attached condos, cabin-style homes, single family homes and patio homes. Rivers Pointe Estates will offer buyers a variety of price points, with homes starting in the mid $250,000s. The development has room for about 1,000 total housing units. When completed, Toebben said this will be a $1 billion project.
“We’ll have lots available for customers to choose within the next 24 months,” Toebben told me.
The entire community will be connected by a trail system. About 30 percent of the total acreage will remain as dedicated green space.

“It will have a park-like setting. We will show respect for the land and the history in the area,” Toebben told me.
The entrance to the Reserve will be off Route 8/River Road. The Reserve will connect to River’s Pointe Stables, a boarding facility for horses and equestrian center, as well as the rest of the Rivers Pointe Estates development through walking and riding trails.
While the site is in a rural and agricultural area, about 20 minutes from downtown Cincinnati, Toebben said it’s just a short drive to nearby amenities such as grocery stores and shopping centers.
At the front of the development, located at North Bend Road across from Sand Run Baptist Church, Toebben is planning a village center, which will be home to about 17,000 square feet of boutique retail, such as a general store, as well as a village green for events, a clubhouse, and a pool.
Toebben planned to start on Rivers Pointe Estates years ago, but that was before the housing bubble burst and the economy tanked.
Toebben expects Rivers Pointe Estates to be at least a 20-year project. That’s just fine with Toebben Builders. The company’s previous large-scale development, Country Squire Estates in Villa Hills, was started by John’s father, Matth Toebben, in 1967. That development, which has more than 300 single family homes and 125 landominiums, has one single-family lot and about 23 landominium lots remaining.

Amazon looking to fill more than 500 jobs in Greater Cincinnati

Amazon.com Inc., the e-commerce giant, is looking to fill more than 500 jobs at its fulfillment centers in Hebron.
Amazon (Nasdaq: AMZN) is hosting a job fair on Thursday, June 25 to fill hundreds of full-time positions. The job fair is scheduled from 10 a.m. to 7 p.m. at the Double Tree by Hilton located at 2826 Terminal Drive in Hebron.

Amazon is looking to fill hourly positions that include picking, packing and shipping customer orders.
As of November 2014, Amazon employed about 2,000 workers in Northern Kentucky, making it the 11th largest employer in that region, according to Business Courier research.
The jobs offer “competitive wages, health insurance, 401(k) with 50 percent match, bonuses, company stock awards and a network of support to help ensure employees succeed.”

Hebron Warehouse Picture

Developer building large warehouse near CVG: EXCLUSIVE

VanTrust Real Estate LLC, a Kansas City-based real estate development company, is building a nearly 274,000-square-foot warehouse building in Hebron without any signed tenants.

Andy Weeks, vice president and general manager in the Columbus office of VanTrust, said he’s confident the new building will fill up quickly.

“We’re very comfortable building a spec building in this market, given the health of this market,” Weeks told me.

VanTrust is the first group to come into the Cincinnati market since the Great Recession and start a speculative building. Industrial Developments International, which was already active in the Cincinnati market, is also building warehouse facilities in Richwood and Monroe.

VanTrust’s new building, Aviation Distribution Center, will be going up in Airpark International, less than a mile from Interstates 71, 75 and 275. The building, located at 1260 Aviation Blvd., fills one of the last developable sites for bulk warehouse space near Cincinnati/Northern Kentucky International Airport.

Pepper Construction is building the new facility for VanTrust. Site work had started on the property before the recent cold temperatures stopped contractors.

The space is scheduled to be available in June. VanTrust is working with the Colliers International team of Norm Khoury, John Gartner and David Noonan to fill the nearly five-football-field space. The team is marketing the space to companies that need fulfillment or distribution space, as well as light manufacturing users. Aviation Distribution Center’s asking lease rate is $3.95 a square foot, with an estimated 75 cents in operating expense.

“We think we’re hitting the market at the right time,” said Khoury, senior vice president with Colliers.

The vacancy rate for bulk warehouse space near the airport will drop below 3 percent by the end of the first quarter, said Gartner, senior vice president and principal with Colliers. Below 10 percent vacancy is considered healthy, Bill Baumgardner, vice president of development at VanTrust, said. When it drops below 7 percent, rent rates start to increase.

“Rents are being pushed,” Baumgardner said.

VanTrust is bullish in general, with about $400 million worth of projects currently underway nationwide. But the company is particularly bullish on industrial development in the Midwest.

“The industrial market in this entire region is very, very strong right now,” Weeks said.

VanTrust has offices in Columbus, Phoenix, Dallas and Houston. It acquires, develops and provides asset management, construction management and consulting for its clients and capital partners. All of its projects are funded through internal equity.

From the Columbus office, Weeks and his team manage projects in Ohio’s capital, Greater Cincinnati, Indianapolis and Louisville. While this is VanTrust’s first project in the Greater Cincinnati market, Weeks is looking for more opportunities.

“We would love to do more in the Greater Cincinnati area,” Weeks said.

Kroger Development spurs development

New Kroger suprs development

AMELIA — Three months after the Kroger Marketplace store in Pierce Township and Amelia opened construction on a retail building next to it has begun.

Tenants in the 22,500-square-foot building, expected to be completed by June, will include Petco, Hibbett Sports, GNC and Verizon Wireless, David Noell, chief operating officer of JDL Warm Construction, said in an email.

Petco will be the biggest store, according to a site plan provided by Select Strategies Realty, which owns the property.

Additional development is underway to add an additional 32,000 square feet of retail space to the Pierce Town Center, which is currently anchored by the Kroger Marketplace.

Michael Paolucci, president of Select Strategies Realty, said his firm owns 14 parcels of land on the Kroger lot.

When asked whether the town center would have taken shape the way it has without Kroger Paolucci delivered a clear answer.

“No,” he said.

“We were looking at other concepts, but Kroger was the one we really wanted to have.”

Purchasing property in the center, and handling all the zoning and jurisdictional road blocks that came along with it, took about eight years.

Getting Kroger to close two area locations and build its marketplace helped attract other businesses, something that was proving difficult because of “a stereotype out there” about Amelia, Paolucci said.

“People wouldn’t even talk to us (before Kroger),” he said, even though the intersection of state Route 125 and Amelia-Olive Branch Road in front of the store is the busiest intersection in Clermont County outside of the Interstate 275 interchange.

“It’s an old part of Cincinnati. It’s not new and sparkly like West Chester, so people don’t think of it as being a community with nice neighborhoods, but they’re there,” he said.

“Once sales for this Kroger Marketplace are publicized more other people (in the retail world) will come in and re-examine Amelia.”

Mike Otto, an Amelia resident, said the new Kroger is “a good place to shop,” but he isn’t looking forward to more construction.

“This area is completely overdeveloped. We don’t need all this,” Otto said.

Otto hasn’t noticed problems with traffic because of the new store, but said he avoids the main road “at all costs.”

“I don’t know if it’s had an impact (on the community). It’s just a bigger Kroger,” he said.

El Jinete, a Mexican restaurant with locations in Fairfax and near Interstate 275 on Montgomery Road, put a “coming soon” sign in the parking lot.

In addition, “Wendy’s is talking to us about (another parcel),” Paolucci said.

The other building, which construction crews haven’t started yet, has 50 to 60 percent of its space in lease negotiations with future tenants, he said.

Some residents don’t think the announced businesses are as encouraging as Paloucci does, citing the close proximity of identical area businesses.

There is a Verizon store 1 mile down the road from its future location in the town center.

There also is a Wendy’s 1 mile toward I-275 and another one 2 miles on the way to Bethel.

Another Mexican restaurant, Los Cabos Mexican Grill, sets up shop 1 mile toward I-275 from El Jinete’s future location.

“It would be nice to see something different (food-wise), especially after the Great Scott Diner closed,” said Patty Hayslip, a Bethel resident

“But the pet store is exciting. I have to go out to Eastgate for that now.”

Phyllis Cunningham, a Tate Township resident, pointed down the road each direction when asked about the choice of businesses.

“There’s a Wendy’s right over there and right over here,” she said.

Paolucci said if a deal is struck with Wendy’s, those two stores will be closed when a new facility is built in the town center.

“We are taking things that are out there and making it better,” he said.

“I don’t want to criticize those people, but sometimes people don’t like change and this presents a giant change. This is a game changer for Amelia.”

Residents voiced similar concerns before Kroger opened, Paolucci said.

“It’s the nature of the beast,” he said

“Before this opened we kept hearing, ‘We love our old, small Kroger.’ We don’t hear that anymore.”

 

Kroger to Build Marketplace store in Amelia

By John Seney • jseney@communitypress.com

AMELIA – Kroger plans to build a 123,000-square-foot Marketplace store on Ohio Pike.

The store will employ about 400 people, both full-time and part-time, Lisa Ammons, a real estate manager with Kroger, told Pierce Township officials Wednesday, April 27.

Once the new store is built, Kroger will close two existing stores in the area, one at Ohio Pike and Bach-Buxton Road in Batavia Township and the other at Ohio Pike and Ohio 132 in Pierce Township, Ammons said.

The two stores that will close are about 56,000 square feet each.

The 14-acre site to be occupied by the new store is partly in Amelia and partly in Pierce Township. There also will be about six acres occupied by other retail stores.

The site is on the south side of Ohio Pike near Amelia-Olive Branch Road.

Most of the site is owned by Select Strategies Realty of Milford. Pierce Township owns about nine acres of the site.

Mike Paolucci of Select Strategies told Pierce Township officials rezoning will be sought for a portion of the site in Pierce Township now zoned residential. The rest of the site is zoned business.

Ammons said the Kroger store will be open 24 hours a day and include a fuel center, pharmacy and bank.

It will be similar to a Marketplace store in Mt. Orab, she said.

Construction is expected to begin by fall.

“We’d like to see this happen,” Pierce Township Trustee Gregg Conrad said.

Pierce Township officials discussed using a portion of their property as a recreation area, with a pond tied into Kroger’s drainage system.

Township Administrator David Elmer said he would look into Tax Increment Financing (TIF) to pay for the recreation area.

New Kroger Sits in Two Communities

Written by
Keith BieryGolick

AMELIA — A Kroger located in two communities at once “isn’t very common.”

That’s what Rachael Betzler, Kroger spokesperson, said when asked about the Kroger Marketplace being built at 262 West Main St. (Ohio Pike).

Nearly half of the new Kroger is located in Amelia village while the other half is situated in Pierce Township, said Todd Hart, Amelia mayor.

It has not been determined how the neighboring communities will divide revenue, Hart said.

The Kroger in Amelia village and Pierce Township has not been finished, but its fuel center opened Feb. 1.

“We haven’t quite figured that out yet. I’ve heard so many rumors as to where the line will be drawn, whether it’s the location of the cash registers or what have you,” he said. “We’ll just have to see how it plays out. Either way, it’s a win-win for both (communities).”

Other responsibilities, like police jurisdiction will have to be worked out, too.

“We’re getting ready for the Kroger right now,” said David Friend, Amelia police chief. “We’re responsible to get ready to take the call – both Pierce Township and us.”

The Kroger fuel center opened Feb. 1 and is 100 percent in Amelia.

“It’s been doing really well,” Betzler said. “Customers are really enjoying being able to use the Kroger points they’ve already accumulated at the other locations.”

The 123,000-square-foot building has been built and the next step is to put blacktop down on the parking lot, Hart said.

“They’re also getting ready to put shelving in next week,” he said.

The location will become “one of the largest Krogers in the state,” Betzler said. A store in Centerville near Dayton is the largest, she said.

Regardless, the store’s opening should drive other businesses into Amelia, Hart said.

“Everything is in finalizing mode, but we’re hoping for some different restaurants and other (businesses),” he said, declining to detail specifics. “I know there is some stuff coming – I can guarantee you that.”

Hart could only speculate about when the store would open – July or August, he said.

And Betzler would only say Kroger was on track to hit its completion goal of “late summer/early fall.”

The next step for the Kroger in Amelia village and Pierce Township is laying blacktop and stocking shelves. A spokesperson said the store is on track for a late summer or early fall opening.

While officials in the village are excited by the prospect of drawing businesses to the area, the opening of the new store also will culminate with the closing of two smaller stores on Ohio Pike.

Those locations will close the night before the new store opens, Betzler said.

Despite the closings, the Kroger Marketplace will bring in 150 jobs to the area, she said.

A Batavia resident filling up his car at the fuel center said he’ll go to the new Kroger, but would rather officials kept the other locations open.

“I kind of like the little one,” said Don Miller, 69. “(The larger store) will bring in too much traffic. It’s just too big.”