Archive for the The Murphy-Abernethy Messenger – newsletter for Murphy-Abernethy Office Group at Cassidy Turley, CincyOfficeSolutions.com Category

Logicalis to West Chester – Holiday in Queensgate – The Nov. Messenger is OUT!

Posted in The Murphy-Abernethy Messenger - newsletter for Murphy-Abernethy Office Group at Cassidy Turley, CincyOfficeSolutions.com on 11/01/2010 by @CincinnatiPR

The Murphy-Abernethy Messenger, Nov. 2010 - Page One.

Logicalis recently put the Murphy-Abernethy Office Group – which handles the Michigan company’s commercial real estate deals in 40 U.S. markets – to work in the Greater Cincinnati market.

The Logicalis office is expanding by one-third, from 10,000 SF to almost 15,000 SF, at Centre Pointe VI in West Chester.

“We find great value in having a single point of contact for all of our transactions,” said Mike Lapree, pointman for the facilities team at Logicalis.

Centre Point VI, West Chester - new Tri-State home for Logicalis.

“We completely trust Scott Abernethy and Don Murphy to provide valuable market information and expertise to achieve the best deal for us in each market,” Lapree said.

“Logicalis is renowned for innovation, design, implementation and support,” said Scott Abernethy.

“Their new office had to reflect that same innovative spirit,” Abernethy said.

Logicalis (http://www.Logicalis.com) serves some heavy hitters.

The company provides integrated information and communications technologies (ICT) solutions and services for the world’s leading vendors, companies such as Cisco, HP, IBM and Microsoft.

In West Chester, The Murphy-Abernethy Office Group client was treated like a king.

“Unless you are leasing an entire floor, it is extremely rare for a company to obtain signage rights on the outside of a building, particularly as valuable as a building sign along I-75,” said Don Murphy.

Logicalis is the lead story in this month’s newsletter from The Murphy-Abernethy Office Group, The Murphy-Abernethy Messenger.

The featured property in this month’s Messenger is Holiday Office Park in Queensgate:

The three-building Holiday Office Park, Queensgate.

The new owner, Cincy Office Properties, has invested in a slew of improvements such as:

Affordable rates, making the property attractive to non-profits;

– A renovated lobby in the main building, Holiday Office Tower;

– A complete renovation of the third-floor conference room in the Tower;

Free parking – both in the garage and on the open lots;

Restrooms retrofitted to better conform to ADA standards;

– Full-service gross leasing rate that encompasses everything;

– On-site delicatessen and management office.

Meanwhile, the new ownership is studying plans for new landscaping and signage.

The November edition of The Murphy-Abernethy Messenger is on the streets – here’s page 2:

The Murphy-Abernethy Messenger, Nov., 2010 - Page Two.

The contact info:

Don Murphy – (513) 763-3008 – don.murphy@cassidyturley.com;

Scott Abernethy – (513) 763-3013 – scott.abernethy@cassidyturley.com;

Peter Snow – (513) 763-3007 – peter.snow@cassidyturley.com.

NYC powerhouse MKTG livin’ on The Edge with new Downtown Cincy office at The Edge Design Center: The Murphy-Abernethy Messenger for Sept. is OUT !!

Posted in The Murphy-Abernethy Messenger - newsletter for Murphy-Abernethy Office Group at Cassidy Turley, CincyOfficeSolutions.com on 09/14/2010 by @CincinnatiPR

With all due respect to Aerosmith, MKTG of New York City, a leading integrated mar/com with offices in Los Angeles, Chicago and San Francisco, will soon be Livin’ on The Edge in Downtown Cincinnati.

http://www.MKTG.com - Cincy office networked with NY, Chicago, LA and San Francisco

The new lease signed by MKTG at The Edge Design Center is the highlight of the September edition of The Murphy-Abernethy Messenger, published by The Murphy-Abernethy Office Group at Cassidy Turley.

MKTG is a power hitter: locally, the publicly-traded company takes care of Procter & Gamble and Chiquita.

MKTG is traded on the Nasdaq with a $4.1 million market cap as “CMKG.”

The Murphy-Abernethy Messenger - Page 1, September 2010.

The local office is supervised by MKTG Cincinnati Division President James Ferguson.

MKTG will be moving into some prime real estate: the top floor of The Edge, complete with a close-up view of everything and anything one would ever want to know about Fort Washington Way/Columbia Parkway traffic.

Located on Culvert Street, The Edge Design Center is tucked into the southeast corner of the Central Business District in Downtown Cincinnati, near Bicentennial Commons and the City’s up-and-coming riverfront district.

It’s a sweet spot: 8,300 SF in a loft/warehouse, slash office/showroom environment.

“The Murphy-Abernethy Office Group did an excellent job searching the market for the creative, unique space we were seeking,” said Mr. Ferguson.

MKTG (www.MKTG.com) creates, designs and delivers experiences that turn customers into believers. The company will be relocating from a Lincoln Heights facility adjacent to Interstate 75 in December; The Murphy-Abernethy team is also listing the Lincoln Heights building.

interior shot - The Edge Design Center.

“The Edge delivers: it’s an edgy, creative concept that developers know resonates with the creative mind,” said Mr. Don Murphy. He can be reached at (513) 763-3008 or don.murphy@cassidyturley.com.

The Murphy-Abernethy Messenger - Page 2, September 2010.

“The downtown market enjoys quite the asset with high-quality, office-loft conversions such as The Edge,” said Mr. Abernethy.

Office/Lofts, Office/Showroom: The Edge Design Center.

Scott can be reached at (513) 763-3013 or at scott.abernethy@cassidyturley.com. Their third partner, Peter Snow, can be reached at (513) 763-3007 or peter.snow@cassidyturley.com.

The Murphy-Abernethy team does business as Cincy Office Solutions (www.CincyOfficeSolutions.com).

The online version can be found at:

http://www.ctmtonline.com/abernethy-ruther/09_sept_2010.pdf.

L-R: Don Murphy, Scott Abernethy and Peter Snow represented MKTG in its new office deal at The Edge Design Center.

The Industry Highlight of the September edition also touches on new rules issued by the Financial Accounting Standards Board (FASB), a U.S. watchdog agency.

“The new accounting rules for leases are turning the corporate world upside down,” said Abernethy.

Abernethy noted five implications of the new regulations that would affect deals such as the MKTG entree into the Downtown Cincy market, such as the 8,300 SF lease at The Edge Design Center:

1. With firms who have to record leases as liabilities, the new standards may create an incentive for companies to buy their offices, vs. leasing;

2. Shorter-term leases may grow in popularity;

3. Renewal and expansion options will become less popular;

4. Landlords will record lease space as income;

5. Large banks, Fortune 500 companies and large retailers will bear the brunt of the new ruling’s impact.

Many of these companies carry thousands of leases worldwide; new regulations will shift entire real estate portfolio strategies.

The Featured Property in this month’s edition of The Messenger is the 580 Building in Downtown Cincinnati, a 500,000+ SF beauty with a sizzling storefront restaurant district.

580 Walnut: Featured Property in The Murphy-Abernethy Messenger, Sept. 2010.

<<<<<<<<<<<<     UPDATE ON WEDNESDAY, SEPT. 15 AT 10:42 A.M.      >>>>>>>>>>>>

Aerosmith called. They’re pissed.

So …. on behalf of your local AARP …..

Evendale Commons lands new 10K SF office/lab HQ for Kinetic Vision: The Murphy-Abernethy Messenger for July is on the move

Posted in The Murphy-Abernethy Messenger - newsletter for Murphy-Abernethy Office Group at Cassidy Turley, CincyOfficeSolutions.com on 07/14/2010 by @CincinnatiPR

The July edition of The Murphy-Abernethy Messenger, published by The Murphy-Abernethy Office Group at Cassidy Turley (CincyOfficeSolutions.com).

The highlight of The Murphy-Abernethy Messenger this month: a new, 10,000-square-foot office/lab HQ for Kinetic Vision. The rendering paints the following picture:

Coming in Fall 2010: new office/lab for Kinetic Vision at Evendale Commons.

The new digs for Kinetic Vision are being developed by Miller-Valentine Group at Evendale Commons, a deal brokered by Don Murphy, Scott Abernethy and Peter Snow at Cassidy Turley (dbas Murphy-Abernethy Office Group, CincyOfficeSolutions.com).

Page Two of this month’s edition of The Messenger is a featured-property segment on the park, nothing more than a strong 3-iron from Interstate 75:

Page Two: The Murphy-Abernethy Messenger, July.

Kinetic Vision bought its piece of Evendale Commons from Miller-Valentine as well. The developer has tapped Murphy-Abernethy to market the rest of the park on Glendale-Milford Road, available for lease, purchase and build-to-suits in chunks of one acre and 21.

Evendale Commons.

So who is Murphy-Abernethy?

Here’s a little sumpin’-sumpin’ from a 2007 Sunday edition of your Cincinnati Enquirer, featuring the Murphy-Abernethy team …. which you can also find at:

http://www.facebook.com/home.php?ref=home#!/photo.php?pid=6752762&id=566215172

The Murphy-Abernethy Office Group at Cassidy Turley, featured on the cover of the Sunday Business section, Cincinnati Enquirer - Sept. 2007

The PDF for The Messenger is available on Don, Scott and Peter’s site …. it prints as a regular, good old-fashioned 8.5 x 11:

http://www.ctmtonline.com/abernethy-ruther/07_july_2010.pdf

Summit Medical facility in Union kicks off vital Town Plan for fast-growing NKy. community: the Nov. edition of The Murphy-Abernethy Messenger is live!

Posted in The Murphy-Abernethy Messenger - newsletter for Murphy-Abernethy Office Group at Cassidy Turley, CincyOfficeSolutions.com on 11/03/2009 by @CincinnatiPR
Summit Medical Rendering - Final - 9-21-09

New Union, Ky. facility for Summit Medical Group, first tenant in the Union Town Plan.

The Murphy-Abernethy Messenger is a monthly newsletter produced for Don Murphy, Scott Abernethy and Peter Snow … aka the Murphy-Abernethy Office Group at Colliers Turley Martin Tucker, one of the big boys in Greater Cincinnati commercial real estate. You can find them online at http://www.CincyOfficeSolutions.com.

The Murphy-Abernethy Messenger - Nov. 2009, page 1

The Murphy-Abernethy Messenger - Nov. 2009, page 1

The November edition features the first tenant at the much-anticipated Union Town Plan in Union, Ky.: Summit Medical Group, with 20 offices across Northern Kentucky. Construction on the newest Summit facility is being handled by Eric Tipton with Tipton Development, with completion expected for the Mount Zion Road building in March 2010.

The industry-trending topic was “Leasing Market Is Still a Tenant’s Game,” evidenced by landlord concessions such as free rent and increased tenant improvement incentives.

Last month, the newletter highlighted Murphy-Abernethy’s work with State Farm Mutual Auto Insurance to wrap up the client’s fifth transaction with the brokers, for a new Symmes Township office at Beckham Square Office Park on Reed Hartman Highway. The new office will open in early December.

Beckham Square Office Park

Beckham Square in Symmes Twp., new home for State Farm Mutual Auto Insurance

The October newsletter’s commentary concerned the lease renewal process, and how tenants can work with brokers, and landlords, to help all parties realize the value of creditworthy tenants in this market. While both tenants and landlords gain from lease renewals, the tenant can, and should, capture most of the economic benefits.

The Murphy-Abernethy Messenger - Oct. 2009, page 1

The Murphy-Abernethy Messenger - Oct. 2009, page 1

Also in October, the Featured Properties segment in the Murphy-Abernethy Messenger highlighted Fountain Place I and II, two of the City of Blue Ash’s finest office buildings. Ownership has invested in capital improvements and sustainable design to keep tenants happy. Businesses are also benefitting from a fixed-rate, gross lease structure. Fountain Pointe is notable for its rate economics, key location, full-service lease structure and a conference center upgraded with state-of-the-art AV.

aerial_revised

New West Chester development, Office at the Pointe, is down the street from the new IKEA.

In September, the team announced its representation of Thinkronize for a new lease at Park 42 in Sharonville, as well as a new project in West Chester dubbed the “Office at the Pointe.” The Office at the Pointe is a three-acre development in the white-hot West Chester market, at the corner of Muhlhauser Road and International Boulevard (shopper alert: it’s close to the new IKEA).

The Murphy-Abernethy Messenger - Sept. 2009, page 1

The Murphy-Abernethy Messenger - Sept. 2009, page 1

Other news in September concentrated on the build-to-suit story: the BTS process provides more flexibility and control over project design and costs, which can make development dreams come true for many companies.

First off, the BTS concept allows companies to get exactly what they need, instead of trying to retrofit an existing building, and living with a less-than-ideal product. There are also many tax incentives geared toward new investment in a newly-constructed building, which can equate to a percentage savings in real estate taxes.

In some cases, the savings can add to up as much as 100 percent for as long as 15 years. Maintenance costs are reduced because the life expectancy of the building systems – the HVAC, roof and mechanicals, etc. – are at their highest point.

There is a longer timeframe for both planning and construction of BTS projects, however. Lease rates are also typically higher than existing buildings, so tenants do need to factor those elements into their final assessment. Other BTS advantages are abundant parking and a greater level of employee satisfaction.

Turfway Ridge

Turfway Ridge in Florence, new home for ASTAR Air Cargo.

August marked a new HQ for ASTAR Air Cargo of Miami at Turfway Ridge, relocating from Wilmington to the Florence site. ASTAR needed to be close to the Greater Cincinnati/Northern Kentucky International Airport. They’re sticking close to one of their biggest customers, DHL Airways.

The Murphy-Abernethy Messenger - August 2009, page 1

The Murphy-Abernethy Messenger - August 2009, page 1

The August newsletter also communicated the outstanding success the Murphy-Abernethy Office Group has had representing Fred Kanter with Rookwood Properties, particularly at Corporate Park in Sycamore Township, where the team has closed eight office deals in 2009 alone.

Based on that track record, Kanter awarded the team the listing for Executive Park in Sharonville. The six-building complex at Interstate 275 and Ohio Route 42 totals 191,000 SF. The Murphy-Abernethy team has capitalized on market fundamentals that dictate companies are more interested in Class B buildings that provide a good value: in many cases, lease rates are 30-40 percent below that of Class A properties.

580 Building - exterior from South

The 580 Walnut Building in Downtown Cincinnati.

Back in July, the Murphy-Abernethy Office Group touted the iconic 580 Walnut Building, a high-profile, two-tower facility with a 400-car parking garage that’s ripe for an international HQ.

Ownership has embarked on a repositioning initiative to showcase the building’s top eight floors as an optimal choice for a regional or national office headquarters.

The 580 sports new retailers on its ground floor, the Energy Star efficiency program, central location to Fountain Square and connections to the city’s Skywalk system.

Also announced in the July newsletter: the Murphy-Abernethy Office Group assisted Barnes, Dennig & Co. to some sweet new digs at a prestigious Fourth Street address in the Federal Reserve Bank Building. The transaction marked the second time in two months the group worked with a major accounting firm.

The Murphy-Abernethy Messenger - July 2009, page 1

The Murphy-Abernethy Messenger - July 2009, page 1

Barnes Dennig was diggin’ on the proactive nature of representation provided by the team.

“What really resonated with us, and what impressed us throughout the whole process, was the proactive nature of representation that the Murphy-Abernethy Office Group was able to provide,” said Bill Cloppert, managing partner.

“They were able to anticipate our needs, and reach out to us during some very critical stages of negotiations. You typically can’t find a professional team that’s able to combine their level of expertise with the kind of responsiveness that we needed, but Scott and his team were there for us every step of the way,” Cloppert added. “It isn’t just about following up with phone calls. It’s about anticipating our needs, every step of the way.”

Midland Building

The Midland Building on East Pete Rose Way, new home for Jackson, Rolfes, Spurgeon & Co.

…. which brings us back to June, and the first of those two “Accountants on the Move” deals.

The team was there for Jackson, Rolfes, Spurgeon & Co., which conducted a site search to locate a new facility. The result was a lease at the Midland Building on East Pete Rose Way, where the CPA firm, now known as Plante Moran, has already relocated.

The June newsletter also detailed the age-old debate of buying vs. leasing property. Deciding which transaction will best support a company’s business, financial and real estate objectives is a complicated issue.

The Murphy-Abernethy Messenger - June 2009, page 1

The Murphy-Abernethy Messenger - June 2009, page 1

The benefits of a lease are low up-front cash requirements, freeing up capital for core business purposes; more control for tenants; mitigation of risk; a simpler disposition scenario and reduced governmental interaction.

On the flip side, buying a building produces a more predictable outcome that can better suit a tenant’s image; provides more control over security, services and utility costs; maintains flexibility for a future sale; instills a potential profit center to complement primary business lines, and preserves tax benefits such as property depreciation and interest expenses.

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