NewcrestImage purchased Fourth & Walnut Centre, a three-building commercial office complex located in Cincinnati's central downtown business district. The three buildings include a 19-floor tower built in 1903; a four-floor office building built in 1937; and a six-floor office building built in 1961. NewcrestImage plans on converting a portion of the complex into an upscale lifestyle hotel. The complex has two restaurants; a business center; a parking garage; and 375,000 square feet of rentable space, with occupancy currently at 56 percent.
The 1.06 acre site is located near multiple business and leisure destinations, including two major sports attractions -- the Great American Ball Park, home of baseball’s Cincinnati Reds, and Paul Brown Stadium, home of football’s Cincinnati Bengals. Corporate headquarters of nine Fortune 500 companies are nearby, notably Procter & Gamble, Fifth Third Bank, The Kroger Company and Macy’s.
Currently, NewcrestImage owns and operates 20 properties, with an additional nine properties under construction or in development.