NewcrestImage buys three-building office complex in Cincinnati

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.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

Currently, NewcrestImage owns and operates 20 properties, with an additional nine properties under construction or in development.

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