Cincinnati Market Overview ICSC 2013 Ohio/West Virginia Idea Exchange August 2013 Presented By: John A. Thompson Sr. Vice President, The Everest Group, Inc 9912 Carver Road, Suite 100, Cincinnati, OH 45242 www.everestrealestate.com
Cincinnati • Market Fast Facts Cincinnati Population • The Greater Cincinnati metro market including northern Kentucky, SE Indiana and Dayton will have a population of 3.5 million by 2015. • The Cincinnati MSA is larger than either Columbus or Cleveland and has more $100K households than either. • Cincinnati is home to nine Fortune 500 companies and over 360 Fortune 500 companies have operation in the Cincinnati MSA. • Major Employers - General Electric, Kroger (now acquiring Harris Teeter for $4.5B and growing fast), Duke Energy, Cincinnati Children’s Hospital, University of Cincinnati, American Financial, Western & Southern Life Insurance. • Regional Draws - New Horsehoe Casino, MLB - Cincinnati Reds, NFL - Bengals, University of Cincinnati, Xavier University, Miami University, Cincinnati Zoo, Newport Aquarium.
Campus Development Knowledge is Good
The Banks - Downtown • Mixed use urban riverfront development • Just opened – The Yard House, The Wine Guy Bistro, Ruth’s Chris Steakhouse, Tin Roof Restaurant • Planned 200,000 SF office at 180 Walnut • 300 luxury apartment units, with 300 more just announced
Rookwood Exchange • Marriot Courtyard now open • Seasons 52, Capital Grille and Jason’s Deli all open • Possible residential apartments planned
Center of Cincinnati - Oakley • Mixed use movie theater, residential, retail development • Anchored by Meijer, Target, Sam’s, PetsMart and • LA Fitness • CineMark 14 screen theatre now open. • Kroger SuperCenter planned • 302 residential apartments
Kenwood, OH Kenwood
The Kenwood Collection • Retail and office development at Kenwood Towne Center • Greater Cincinnati’s TOP retail and office market • Looking for high end luxury retailers and new-to-market retailers to join Crate & Barrel
Liberty Center • Lifestyle development in the fast growing West Chester, Ohio market. • Planned 1.1M SF first phase with Dillard’s, Cobb Theatres 16 screen. • 85,000 SF office • 220 apartments
Northgate, OH Northgate
Short Vine • Mixed use – student apartments over 1st floor retail • Two projects completed • - Views on Vine 104 units • - Vine Street Flats – 32 units • First floor retail available.
University Station - Xavier • Phase 1 to include Campus Book Store • 180 student apartments. • Planned 50,000 SF office • Seeking retail, restaurants
Norse Pointe - NKU • Front door gateway to the Campus. • Seeking hotel, movie theatre, retail and restaurants • May include some student housing and offices. • Seeking development partner. For more info - Jeff Strunk NKU 859-572-6448