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RG Properties expects commitments for 50 percent of new office building before work begins Sept. 1

August 12, 2011

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RG Properties Inc. will begin work Sept. 1 on the third office building at Austin Landing with expected commitments for more than 50 percent of the space in the new building.

“We are extremely pleased to have this level of interest in our next office building prior to beginning construction,” said Jason Woodard, vice president of development for RG Properties. “We are fortunate to have had great success with Teradata and our first multi-tenant building, and we are happy to be moving forward.”

The Washington-Twp.-based commercial real estate company is planning to begin construction on the four-story building, which will total 120,000 square feet, on Sept. 1. The $12 million project is scheduled to be ready for occupancy June 2012.

Clark Schaefer Hackett, a Dayton-based accounting firm with a history of more than 70 years in the region, is the first tenant to sign a lease for the new building, taking 20,000 square feet, and is expected to move in July 1, 2012.

With the signed lease from Clark Schaefer Hackett and expected commitments from two other companies, which have not yet finalized leases, RG Properties already has the third office building 50 percent committed. RG is not releasing the names of the other two companies, pending the finalization of contracts.

The commitments are just the latest in a series of new deals at Austin Landing, a 142-acre mixed-use development on the northeast corner of the Interstate 75 interchange at Austin Boulevard. The other four-story office building, where RG Properties will move its own offices this week, is 95 percent occupied. Teradata occupies 100 percent of the first office building opened at the development.

Along with the third office building, RG Properties also is beginning work on a 652-space parking garage for the development, which will be primarily utilized by tenants of the third office building and other users at the development.

“We are very excited about the progress we have made at Austin Landing and the opportunities ahead of us,” Woodard said. “We have a great collection of tenants providing the foundation, and we are poised to build upon that.”

All content provided in this article is for informational purposes only. Matters discussed in this article are subject to change. For up-to-date information on this subject please contact a Clark Schaefer Hackett professional. Clark Schaefer Hackett will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

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