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Colliers International Ohio Announces the Sale of Pentagon 1 for over $5 Million

Beavercreek Property Sells for Over $5 Million

CINCINNATI (November 12, 2019) Pentagon 1, 3610 Pentagon Blvd, located in Beavercreek, Ohio, was purchased by  Wright-Patt Credit Union (WPCU) for $5,216,000. Richard Meder, Senior Vice President & Principal of Colliers Ohio, an expert in the real estate needs of the Defense Sector encompassing the Wright Patterson Air Force Base (WPAFB) and Dayton region, represented the seller, GER REB Realty, LLC. 

 

As reported in Colliers’ Q3 Dayton Office Report, the Defense Sector continues to drive activity in the Dayton Office Market, which is demonstrated in this transaction.  WPCU purchased this Class A, 30,846 SF property, sitting adjacent to the largest single-site employer in the State of Ohio, WPAFB, to allow strategic growth as they expand from their current headquarters, which sits just east of the newly purchased building.  WPCU has over 800 employees across dozens of locations in Southwest and Central Ohio.  With 380,000 members and $4.4 billion in assets, it is the largest credit union in the state and ranked as one of the 50 fastest growing companies in the Dayton region by the Dayton Business Journal. WPCU also topped the Forbes’ list of America’s Best Credit Unions in Ohio.

Behind the Deal

Sale Price:    $5,216,000

 

Total SF:       30,846 SF

 

Buyer:           Wright-Patt Credit Union

 

Seller:               GER REB Realty, LLC

 

Represented Seller:       Richard Meder, Senior Vice President, Colliers International

Represented Buyer:      Paul Howe, Paul Howe Realty

 

For more information about Colliers International in Cincinnati, visit our webpage.

Follow us on Twitter at @ColliersCincy.

 

About Colliers International Group

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.

Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

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For further information, please contact

Amy Schenk, Director of Marketing & Public Relations

Colliers International Greater Cincinnati

Phone: 513-562-2245
Email:
amy.schenk@colliers.com


Related Experts

Richard Meder

Sr. VP

Cincinnati

Area of Expertise

Richard Meder has been a Commercial Realtor® in Cincinnati since 1986. In that time, he has worked within the same company.

As Principal | Brokerage Senior Vice President of Colliers International Greater Cincinnati, Richard offers extensive corporate services and specializes in the sale and leasing of multi- and single-tenant commercial buildings throughout Greater Cincinnati, Dayton and Northern Kentucky. Richard also assists clients in fulfilling build-to-suit requirements and tenant representative assignments.​​ Richard specializes in site selections for corporate headquarters and has considerable expertise in successfully negotiating real estate transactions that require state tax incentives.

Community Involvement

“Giving back” is important to Richard. His interests reflect his lifetime involvement in the community and his commitment to youth and the organizations that support them. He is currently or has been involved with these organizations:

·  St. Rita School for the Deaf. Chairman of Board of Trustees.

·  The Fire Museum of Greater Cincinnati. Past President.

·  Seton Family Center (a Sisters of Charity-sponsored ministry). Board of Trustees, 9 years. Past President.

·  Springer School & Center. Board of Trustees, 9 years.

·  Dan Beard Council Boy Scouts of America, Maketewa District. Steering Committee.

·  Hoxworth Blood Center. Premier Donor.

·  Sisters of Charity of Cincinnati.

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