Friday October 20, 2017

Al. Neyer Featured in The New York Times

The Greater Cincinnati industrial market is one of the tightest in the country, and Al. Neyer is hustling to meet the growing demand. That’s according to a report published today in The New York Times. Al. Neyer President and CEO Molly North says the firm is bullish on development to take advantage of the dynamics of the marketplace.

Here’s more from Micah Maidenberg:

‘“Cincinnati has historically had low vacancy rates,” said Molly North, chief executive at Al. Neyer. “Certainly, from a developer’s perspective, this calls for more supply. I think it’s also an indication that, as developers, we haven’t kept up with demand in the market.”

Before the project in Hebron, Al. Neyer had not developed a warehouse property in the Cincinnati area since 2007, according to Ms. North. As the economy softened, leasing that development was a challenge. The company focused on other real estate projects instead.

Now, the company wants back in the market. Even as they try to lease the Hebron project, Al. Neyer and Hillwood have bought another parcel close to the region’s airport and plan to build two more buildings with 1.7 million square feet between them. Construction on the first building is set to begin next April.’

You can read more in The New York Times here.

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