Turner Signs Lease for Office Space in 3CDC’s Foundry Development
Posted on July 12, 2021 by sujvary
Organizations creating a hub where community and business combine at the heart of the City
CINCINNATI (July 12, 2021) – Cincinnati Center City Development Corp. (3CDC) and Turner Construction have agreed to terms on a lease that will make the North America-based, international construction services company the newest tenant in the developer’s Foundry project, the $51 million mixed-use development of Fountain Place that was previously home to Macy’s department store.
Turner will occupy 27,000 square feet of space on the building’s second floor at the corner of Fifth and Race Streets, positioning it directly across the street from the 84.51° office, a development 3CDC and Turner previously partnered on that was completed in 2015. The two organizations have also collaborated on the renovations of Washington Park and Ziegler Park, the 4th & Race mixed-used development one block west of The Foundry, and the Kroger on the Rhine, which was completed in 2019.
“Our long-time partnership with 3CDC is rooted in the mission to create community-centric projects that help fuel Cincinnati’s continued growth. Their vision for the Foundry development embodies this same premise – a place where community and business combine at the heart of the City,” said David Spaulding, Vice President and General Manager of Turner. “Downtown has been our home for over 20 years; thank you to the Chavez family and their Court Street office location. Moving to our new space will bring an opportunity to re-create the right environment for our people, showcase sustainable and innovative products and processes, as well as provide a designated space for community organizations, businesses, and thought leaders to collaborate. We are eager to share our new home.”
One of the largest construction companies in Cincinnati, Turner’s other notable downtown projects include the most recently completed TQL Stadium – home of FC Cincinnati, the renovation and restoration of Union Terminal, Great American Tower, and the Contemporary Art Center, to name a few. The organization is moving into the new space from its current office suite at 250 W. Court Street. The financial center for the entire company will also reside at the Foundry location. Leasing efforts were completed by Joe McVicker at Frost Brown Todd. Construction on the new space, which will be handled by Turner, is expected to be finished in early 2022.
3CDC’s leasing efforts at The Foundry have accelerated in recent weeks. In early June, the non-profit developer signed its first street-level commercial tenant, Royce, a French-leaning brasserie concept from Nashville-based restauranteur Terry Raley. Last week, the organization announced its first office tenant for the space, Deloitte, which is Greater Cincinnati’s largest accounting firm.
The Foundry will eventually feature 150,000 square feet of Class A office space, although just 93,000 square feet of space spread across the second and third floors is still available following the lease signings of Turner and Deloitte. The project also includes 35,000 square feet of street-level retail space and a 164-space underground garage that is already operating. With demolition of the building’s interior completed, the installation of mechanical systems throughout the structure is currently underway. 3CDC is also currently in the process of wrapping the building with an all-glass façade. That process is expected to be finished later this month.
“We have a long-lasting, strong partnership with Turner, so we couldn’t be happier about them moving their Cincinnati offices to The Foundry” Katie Westbrook, 3CDC’s Development Manager in charge of the project, said. “As one of the most prominent structures in Cincinnati’s Central Business District, we’re excited to be reactivating The Foundry with businesses that lead their respective industries and restaurant tenants who will ignite significant pedestrian traffic to this core area of our City.”
# # #