Q2 2012 Cincinnati, Ohio Office Property Sales Analysis

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Q2 2012 Cincinnati, Ohio Office Property Sales Analysis


There were three office sales in the Cincinnati office market in the second quarter of 2012, Reis reports.* The transaction volume was $21.5 million and the average price per-square-foot was $80. The mean cap rate was 8.7% and the 12 month rolling cap rate was 10.0%. The quarter’s largest sale was The Hawthorne Center, at 135,000 square feet, on Carver Road in the Blue Ash submarket. The property sold for $16.6 million ($123 psf) and was 6.0% (excluding sublease) vacant at sale, according to Reis. The estimated going-in cap rate was 7.9%.