Stan Johnson Company Announces Sale of Ameritas' Cincinnati, Ohio Building
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has arranged the sale of a Class A, 70,876-square-foot office building located at 1876 Waycross Road in Cincinnati, Ohio. The single-tenant facility is newly leased to Liberty Mutual Insurance Company, a diversified global insurer and industry-leading provider of property and casualty insurance. Stan Johnson Company’s Brad Pepin exclusively represented the Lincoln, Nebraska-based seller, Ameritas. The buyer was NRED, a vertically integrated operating and investment firm headquartered in Leawood, Kansas.
“We were proud to represent Ameritas in the sale of this attractive asset,” said Pepin, Senior Director and Partner in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “This investment offering was well-received, allowing us to generate several offers by many qualified buyers during an uncertain time in the office investment marketplace. The aggressive pricing achieved was commensurate to the attractive creditworthiness of the tenant, the quality lease terms and the excellent Cincinnati office submarket. This will be an outstanding investment for the buyer for many years to come.”
Located in the Carillon Business Park, the property was originally built in 2015 with new tenant improvements finished in 2021. Liberty Mutual relocated to the property earlier this year from an existing facility in nearby Fairfield, Ohio. The new office facility will house hundreds of employees and provide better efficiency for the organization. The office includes a mix of employee flex space and features unassigned seating for remote employees as well as different types of collaboration space.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.
Ameritas is a marketing name for Ameritas Mutual Holding Company and its affiliated subsidiary companies, including Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York. Founded in 1887, Ameritas offers a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; retirement plans; investments; asset management; and public finance. Securities offered through affiliate Ameritas Investment Company LLC., member FINRA/SIPC and investment advisory services offered through the business name of Ameritas Advisory Services. For more information, visit ameritas.com.
NRED is a vertically integrated real estate company engaged in the acquisition, ownership, and management of multi-family residential apartment communities and commercial properties in the Midwest and Texas. Headquartered in suburban Kansas City, NRED manages and operates diverse commercial real estate assets across five states. NRED has a robust institutional investment management platform with over $800 million in assets under management. NRED was founded by Paul Fingersh in 1980 with a simple mission statement: To attract and develop the best team, build vibrant communities, and deliver exceptional returns. Visit www.nolanred.com.