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Case Study

Following 4 years of failed attempts by other firms, JLL sells 437,000-square-foot building within 7 months

Services provided: Agency Leasing
Client:REIT company; Jeff Wyler Automotive Family; Cincinnati Ohio

In 2001, a commercial real estate investment firm purchased a 437,000-square-foot building in downtown Cincinnati, located at 401 Milford Parkway. When the building’s tenant went bankrupt in 2009, the company was left with a vacant property—and a large mark on its investment portfolio.

Over the span of more than four years, two brokerage firms were hired and failed to secure new tenants or make a sale. In October 2011, the building was still vacant, and Jones Lang LaSalle was engaged to sell or lease the property.

Utilizing market expertise and experience, JLL sold the building to Jeff Wyler Automotive Family in less than seven months. 50,000- 60,000 square feet will be used for its new headquarters. JLL successfully leased 198,000 square feet of the remaining space to Software Packaging Associates in April 2013.

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