JLL completes sale of Cincinnati office building
Newly renovated office tower within close proximity to local demand drivers
CHICAGO, April 23, 2020 – JLL Capital Markets announced today that it has completed the sale of Columbia Plaza, a newly renovated, 538,437-square-foot office building in Cincinnati, Ohio.
JLL represented the seller, HighBrook Investors, and procured the buyer, Zamir Equities, LLC.
Columbia Plaza is located at 250 E 5th Street in the heart of Cincinnati’s central business district, which is home to eight Fortune 500 companies. The 29-story tower has a superior location close to demand drivers such as Fountain Square, the entertainment districts of Newport and Covington, as well as The Banks, which is home to the Cincinnati Bengals and Reds. Additionally, Columbia Plaza is proximate to Interstates 71 and 75, two of the major regional thoroughfares. Recently renovated, the 29-story tower boasts a 5,000-square-foot expansion to the lobby, a 3,000-square-foot tenant lounge, conferencing facilities, outdoor plaza with multiple seating areas and a 494-space subterranean parking garage. The 76.2%-leased Columbia Plaza is anchored by Western & Southern.
The JLL Capital Markets team representing the seller was led by Senior Managing Directors Jaime Fink, Jeffrey Bramson and Bruce Miller, Senior Director Patrick Shields and Director Sam Difrancesca.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Highbrook Investors
HighBrook Investors is a real estate private equity firm that was founded in 2010 as a unique entity blending best practices from both the private equity and hedge fund industries. As a value-oriented investor, Highbrook acquires and actively manages property investments across North America and Europe which are typically in need of repositioning or restructuring. The HighBrook team specializes in recapitalizing properties that are encumbered by complicated structures, and in transactions that typically require speed, flexibility and substantial capital infusions. As a nimble and well-capitalized player, Highbrook is uniquely positioned to source and execute on compelling risk-adjusted investment opportunities.
About Zamir Equities
Founded by Asher Zamir in 2003, Zamir Equities is a privately held New York City-based, integrated real estate private equity firm. Currently, Zamir Equities owns and manages cumulative properties in excess of 3.6 million square feet. Recognized for their astute acquisition proficiency, along with unparalleled real estate management, leasing and marketing experience, Zamir Equities specializes in risk-adjusted market returns in both undervalued and stabilized real estate assets. Zamir Equities is headquartered in the heart of midtown Manhattan in the Fred F. French Building. For more information, please visit: zamirequities.com.