Schueler Group’s commercial real estate development company, Bunnell Hill Development, closed a deal with Faropoint Ventures this month that totaled $5.3 million. Faropoint’s Flint Group chose one available warehouse/office space for lease at Bunnell Hill’s land holdings in Butler County, Ohio. Our commercial real estate agent, Kevin Scott, with Henkle Schueler & Associates, was the listing agent for this deal.
This accretion is the newest of Faropoint’s many acquisitions of industrial properties for sale or lease in the Cincinnati, OH-KY-IN Metropolitan Areas since they entered the region in mid-2019. Faropoint’s lease with Schueler Group will ensure their new warehouse space will be tailored to their needs and will include ongoing, comprehensive site management services by our property management division.
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Details of the Deal
The following information on the deal originally appeared as an article in the Cincinnati Business Courier as a Commercial Real Estate Deal of the Week:
Property name: 575 Quality Blvd.
Buyer: Faropoint Ventures
Seller: Bunnell Hill Development Co. Inc.
Listing brokers, firm: Kevin Scott, Henkle Schueler & Associates
Buyer’s broker, firm: Rod MacEachen and Roddy MacEachen, SqFt Commercial
Purchase price: $5.3 million
Deal closed: March 2020
Description of property: A more than 72,000-square-foot office/warehouse free-standing building on 12 acres
Address: 575 Quality Blvd., Fairfield 45014
Behind the deal: This building, leased to Flint Group, is Faropoint’s 10th industrial building acquisition in the Greater Cincinnati and Northern Kentucky area since the summer of 2019, with more than $50 million to place in 2020.
Deal of the Week examines a recent noteworthy lease or sale of local commercial property and/or a residential sale; the transaction must exceed a minimum of $1 million.
