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Newmark Grubb Knight Frank (NGKF) is pleased to announce that Cincinnati Commercial Real Estate, an Ohio corporation and part of the NGKF organization, has been appointed as the exclusive broker in the sale of Forest Fair Village (Forest Fair Mall), the 1.9 million square foot mall located in the northwest region of Cincinnati, Ohio. Consisting of approximately 90 acres, the site offers a one-of-a-kind opportunity for redevelopment with possibilities including office, governmental, high-tech, light industrial, residential, medical, sports and recreation or educational concepts.
“This is a rare and exciting opportunity for qualified users to acquire a large, fully developed parcel at a major highway interchange in a strong Midwest metro market,” said Managing Director John Thompson. “The redevelopment opportunities are countless and we expect we will have interest from a multitude of types of users. Furthermore, investors will benefit from the highly-competitive sales price and visible highway location, offering easy access to the entire Midwest.”
Located at 1047 Forest Fair Drive in Forest Park, Ohio in the northeast quadrant of the I-275 / Winton Road interchange, Forest Fair Village offers nearly 2,000 feet of highway frontage which carries daily traffic of more than 97,000 vehicles. The site is readily accessible to I-71 and I-75 corridors and offers easy access to the entire tristate market. Infrastructure is in place including highway interchange, traffic lights, access roads, structured parking, utilities as well as water detention. Forest Fair Village features approximately 4,000 surface lot parking spaces and an additional 2,702 spaces in a three-level parking garage. Senior Managing Directors Joshua Young, Keith Yearout and Jim Vondran were hired by ownership to lead the brokerage team in the sale of the Forest Fair Mall property along with Managing Directors John Thompson, Darin Armbruster and Chris Nachtrab.
“Local city and county governments are eager to assist with a redevelopment on this great site,” added Thompson. “We need a very large user to help kick-off the redevelopment. If you are ‘thinking big’ in the Midwest, this is a site that will be very attractive.”
First developed in 1989 as a high-end mall featuring anchors such as Bonwit Teller, Sakowitz, B. Altman and Parisian, current anchor tenants of Forest Fair Village include Bass Pro Shops, Kohl’s and Babies “R” Us leasing 142,552 square feet, 116,328 square feet and 38,500 square feet respectively. The property includes two, 50-foot pylon signs facing I-275 with multiple tenant panels.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
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