will host a grand opening of its $25 million, 166,000-square-foot Red Bank Crossing commercial development on Thursday at 10 AM.
"The Red Bank corridor was what I call an unsightly, underperforming real estate asset; there was no reason to stop on Red Bank Road until you reached I-71," says Daniel Neyer, president of Neyer Properties.
Neyer says that he used to drive by the property at 4400 Red Bank Expressway in Madisonville, which was owned by the City of Cincinnati, and wonder why it had never been developed.
"In the late 1990s, I inquired about the property as I was working with a few companies who expressed interest in being in that area," he says. "I talked with the City personnel about this and after some time convinced them that it would be in their best interest to solicit proposals from developers to sell the property to be developed."
In 2001, Neyer Properties was awarded development rights for the property and purchased the 12.5-acre site.
The company completed the Gorilla Glue Company
headquarters in 2002, Red Bank Crossing I in 2005, and Red Bank Crossing II in July 2008.
The new buildings have been fully leased to medical office tenants.
Other buildings in the development include a Goddard School
daycare center and a 10,500-square-foot retail center, with a retail outlot scheduled for construction next year.
Because of its location, Neyer believes that the new wave of growth will hold its own.
"Red Bank Road will always be the connector route between the east side of town - Mt. Washington, Anderson, Mariemont, and parts of Hyde Park and Indian Hill - to I-71, since Cross County will never be extended into Indian Hill," he says. "With this plus the volume of traffic and key decision makers, this area will remain strong and viable for years to come."
Writer: Kevin LeMaster
Source: Daniel Neyer, president, Neyer PropertiesPhotograph by Scott Beseler