Marketing Covington and Northern Kentucky's Vacant Storefronts & Office Space
A new marketing campaign will highlight available facilities for businesses that may locate in Northern Kentucky. The Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) on Wednesday released the Northern Kentucky Siganture Sites and Buildings catalog.
It features representative real estate throughout the entire region, including the urban, suburban, and rural landscapes of Boone, Kenton, and Campbell Counties.
Northern Kentucky Tri-County Economic Development Corporation (Tri-ED) announced a new marketing campaign for the region today through the Northern Kentucky Signature Sites and Buildings catalog. The catalog, available in print and an online version at www.NorthernKentuckyUSA.com andhttp://tinyurl.com/NKYTri-
Northern Kentucky Tri-ED recently announced several economic development projects that include significant expansions and major investments throughout the three county region, near the Cincinnati/Northern Kentucky International Airport (CVG), and in the region’s urban core in Covington.
“Our momentum is continuing to build on many fronts, as a result of years of a very aggressive and targeted marketing and outreach program,” said Steve Pendery, Campbell County Judge-Executive and Chair-Elect of Northern Kentucky Tri-ED and Chair of the Tri-ED Marketing Committee. “We have many opportunities for new and existing companies to expand in our area, both along the Ohio River and in more suburban and rural settings. With the catalog and supporting marketing efforts, we are showcasing Northern Kentucky to site selection experts, the real estate community and targeted businesses throughout the U.S. and around the world.”
The Northern Kentucky Signature Sites and Buildings catalog showcases a range of options from office to planned opportunity; available industrial buildings to developable land positions. Three recent projects highlight the scope of what’s available in Northern Kentucky.
- Newly Weds Foods is launching a new operation after acquiring a 326,000 square foot building in the Circleport Business Park in Boone County near CVG. The project involves a $53 million investment and the creation of 115 new jobs.
- Westpack, a newly-formed subsidiary of Russian bottle manufacturing company Unipack, is establishing a 126,000 square foot manufacturing center in an existing building in the Latonia neighborhood of Covington, Kentucky. A capital investment of $5 million and 63 jobs have been announced.
- L’Oreal USA broke ground on a $42 million investment, including renovations to its existing plant, new construction and purchase of equipment. The expansion, adding 110,000 square feet adjacent to its 560,000 square foot facility in Boone County, will create more than 200 new jobs over the next three years.
“These projects demonstrate that Northern Kentucky delivers what companies are looking for: a diversity of real estate options, an educated and available workforce and a strong transportation network that is easily accessible,” said Karen Finan, senior vice president of Tri-ED. “Investment in Northern Kentucky is at a high point and we’re working hard to continue the trend. We can offer a variety of customized solutions for expanding companies in target industries like IT and Finance or Advanced Manufacturing and Distribution/e-commerce. Northern Kentucky is open for business”.
In addition to these projects, Gateway Community & Technical College has announced plans for an $80 million urban campus in Downtown Covington, Northern Kentucky. A $25 million center-city boutique hotel is also under development in Covington. Carespring Health Management broke ground on a $24 million transitional care facility on 7 acres in Cold Spring, Kentucky, a suburban area of Campbell County.
“Northern Kentucky has the real estate solutions, incentive programs and workforce opportunities that companies are looking for,” said Finan. “Our team at Tri-ED makes the process seamless whether we are working with a company representative; a developer interested in the market or a real estate professional.”
What's available in Covington?
Properties in Covington highlighted in the catalog include RiverCenter towers I & II (including a "significant price reduction" for the space formerly occupied by Omnicare's world headquarters which bolted for Cincinnati in 2011). RiverCenter I has 103,000 square feetavailable, or nearly a third of the building. RiverCenter II, where Omnicare used to occupy six floors, has more than 92,000 square feet available from that vacancy (which will be sub-leased), and another 64,000 of its total 250,000 square feet elsewhere in the building.
Madison Place, former home of The Nielsen Company which departed around the same time Omnicare did, has its entire 294,000 square feet available.
The Fifth Street Center is also profiled as well as a blanket listing for forty-nine empty storefronts in Covington.
The catalog also lists the Ovation project in Newport, a master planned business and entertainment park developed by Covington-based Corporex which has not yet broken ground.
Also in the catalog are three industrial sites, including two large warehouses in South Covington and one on the 800 block of Russell Street Downtown.
Read the catalog online: Click Here
Source: news release & RCN file