Fifth Third Center
CBRE’s Investment Group is proud to offer Fifth Third Center, a ±343,236 SF office building and parking garage located at 1 South Main Street, Dayton, OH (“The Property”) for purchase. Well located and strategically positioned in Dayton’s CBD, Fifth Third Center presents a unique value-add opportunity for investors to purchase a Class-A office building at an attractive basis in a dense downtown location. This asset provides a mix of stable cash flow from its in-place tenancy, and value-add upside potential through vacancy absorption and strategic leasing strategies.
Built in 1989 and meticulously maintained, Fifth Third Center consists of a 20-story office building which is situated in the CBD area of Dayton. This offering also includes a seven-level parking garage which is situated at the southeast corner of the intersection of West Third Street and South Ludlow Street, on the same blockfront as the subject office tower. The parking garage features covered pedestrian access to the office tower lobby via a second-floor, climate-controlled walkway which passes through the Dayton Arcade. The Property is currently ±38% occupied to professional office tenants including Fifth Third Bank, Chicago Title, Porter Wright Morris, Dinsmore & Shohl, Level 3, and the State of Ohio. The diverse mix of tenants have long operating histories, staggered lease expirations, contractual rate increases, and options to extend. A new investor can substantially improve the occupancy of the building through a strategic leasing plan of the vacant ±212,052 SF at long term market rates.
Fifth Third Center is positioned on ±1.24 acres and has good frontage along the west side of South Main Street and along the south side of West Third Street. The Property offers excellent accessibility and is positioned near several public transportation options. The Property is a prominent building in Dayton’s downtown skyline and benefits from extremely strong demographics with a 2019 population of ±215,800, an average household income of ±$51,921, and ±7,653 businesses with ±147,821 employees within a 5-mile radius.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
Platform fee for this transaction is 5.00% or a minimum of $25,000.
Keller Williams Greater Cleveland