Developers buy historic downtown building, eye potential redevelopment

A pair of commercial real estate companies has purchased a historical downtown Cincinnati office building with an eye on potentially converting the building to a different use. Sunflower Development Group and Block Real Estate Services purchased the Cincinnati Club Building, located at 30 Garfield Place, from Vulcan Property Management Co. at the end of November for $4.35 million.

Jason Swords, principal with Sunflower Development Group, said at this point, the development team is still determining its plan for the property. But, he knows the building has great history and that is something Sunflower does well. “We will treat this historic building with the utmost respect,” Swords told me. “We’ll figureout what to do with the upper floors.”

Both Block and Sunflower said they are looking for additional opportunities in the Cincinnati market.“We are planning for a long-term hold,” Swords said. “We want to be good neighbors. We hope to do more projects in Cincinnati.”

For the full article go to the Cincinnati Biz Journal.