Office

9227 Centre Point Drive - AK Steel

West Chester, Ohio United States
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2007
Building Area Net
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the opportunity to acquire 9227 Centre Pointe Drive (the “Property”), a 135,936 square foot Class A office building located in Westchester, OH. The Property is 100% leased to AK Steel on a triple-net basis with 7.3 years remaining in the current term, has immediate access to I-75, and sits just 20 miles north of Cincinnati’s CBD. Cleveland Cliffs (NYSE: CLF) acquired AK Steel Corporation (the “Tenant”) in March 2020 to vertically integrate its iron ore business with quality focused steel production, and as a result became the largest flat-rolled steel producer in North America. 


Investment Highlights

  • Industry leading tenancy from Cleveland Cliffs (largest supplier of automotive steel in US)
  • Class A office building in Cincinnati MSA
  • Located in affluent Cincinnati suburb ($154,654 Avg. HH income) just 22 minutes from the CBD
  • 15-year operating history from the tenant who renewed lease early in 2018
  • Over 7 years of lease term remaining with two, 5-year extension options
Last Updated Date: 10 May 2022

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Last Updated Date: 10 May 2022

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