Schueler Group recently facilitated a sizable commercial land transaction with the intention for commercial development. The road-facing acreage is intended for retail spaces for sale, and the remainder of the lot will be for development that includes industrial warehousing and distribution properties, as well as other commercial uses.
This newest project is the type that fits right in our area of expertise: commercial real estate development and facilitating company growth – both our own, and those of the clients who choose to build commercial properties in this new business park.
Below is an article that recently appeared in the Cincinnati Business Courier, where our Executive VP, Jeff Eichhorn, chats with a local reporter about this new venture in local commercial real estate and what it means for the area:
“A group of investors led by the Schueler Group purchased 105 acres of land in Lebanon for development.
The group, Arrow Springs Farms LLC, purchased the land at state Route 48 and Interstate 71 from an affiliate of North American Properties in July for $1.2 million. Jeff Eichhorn, executive vice president with Schueler Group, said the plan is to develop the property with a mix of retail and other commercial uses.
“It’s right in our sweet spot,” Eichhorn told me. “It’s right in the path of progress.”
Schueler Group is marketing the property as Arrow Springs Farms. Of the 105 acres, six are being marketed for retail use fronting state Route 48. The retail land is priced at $100,000 per acre.
The remaining 99 acres are being marketed for commercial use with a purchase price of $60,000 per acre.
Eichhorn sees a mix of medical office, office and assisted living uses at the site.
He said the property has already drawn interest from a user that wants to bring assisted living to the site.
The property will have two access points, one of which will be located at the signalized intersection of Nelson Avenue and state Route 48. It also is located just south of TriHealth’s Bethesda Arrow Springs facility.
Eichhorn said the location, with frontage along I-71 and state Route 48, also makes the site attractive.
The site is zoned general commercial, which is a flexible zoning that allows a number of different uses. All utilities are already at the site.
“We’re really bullish on this spot,” Eichhorn said.”
Contact Jeff Eichhorn for more information on this development. firstname.lastname@example.org; 513-932-6010