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.
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.