90 North Real Estate Partners LLC (“90 North”) is pleased to announce the sale of its Bond Hill Office Building in Cincinnati, Ohio, to buyer Hamilton County, Ohio.
Working with its investment partner Rasameel Investment Company (“Rasameel”), the sale, marks a positive exit amidst considerable capital market challenges in the office sector.
The 368,000 sq.ft. Class A office building was completed in 2016 and will now serve as the future home for Hamilton County with plans to accommodate the Department of Job and Family Services and the Developmental Disabilities Services Division.
Daniel T. Cooper, Head of North America for 90 North, commented: “This sale was a success due to the mutual cooperation of Bon Secours Mercy Health (BSMH), Hamilton County and their broker, Bob Ryan of Cushman Wakefield. As advisors on other assets in Cincinnati, we value our relationship with the County, the City and BSMH.”
Jay Pacelli, Senior Vice President of Transaction for 90 North added: “Having acquired the property soon after completion of construction in 2017, it’s rewarding to witness the resilience of high-quality office product in the face of several significant market headwinds.”