Thursday, May 21, 2009

Lease, parking agreement could aid dunnhumbyUSA expansion

Cincinnati City Council is considering entering the City into a property lease and executing a parking license agreement with dunnhumbyUSA to aid the company in its Downtown relocation and expansion.

Under the agreements, the company would lease the 1.1-acre right-of-way along portions of John Street and Sawyer Court for $1 per year, and would secure 158 parking spaces in an adjacent City-owned lot for the monthly rate of $60 per space.

Both agreements would last for five years with an optional five-year renewal.

A Department of Public Services building on the site was razed in March.

Last November, dunnhumbyUSA signed a 10-year lease to occupy the 150,000-square-foot building at 444 W Third Street, which is undergoing a $17 million renovation by developer Al. Neyer, Inc.

The company, which currently employs more than 260 at 302 W Third Street, plans to add up to 350 positions within the next five years.

Previous reading on BC:
'Hybrid' of four Brent Spence alternatives recommended (5/13/09)
Cincinnati budgets for expanded dunnhumbyUSA parking (12/22/08)