Monday, August 3, 2009

Lease would provide better access for dunnhumbyUSA parking

DHC/ANI, LLC (Al. Neyer, Inc.) is seeking a lease agreement with the City of Cincinnati to make parking more accessible for dunnhumbyUSA's future employees at 444 W Third Street, Downtown.

For $1 per year, the five-year agreement would provide the developer with an additional one-fifth of an acre at the southeast corner of John Street and Sawyer Court.

The contract includes an optional five-year renewal.

Professional property assessors have estimated the annual fair market rental value of the property at $3,500.

dunnhumbyUSA has signed a 10-year lease to occupy the 150,000-square-foot building, currently undergoing a $17 million renovation.

The firm is relocating its 260 employees from its offices at 302 W Third Street, and has announced plans to add up to 350 positions over the next five years.

An ordinance executing a lease agreement will be considered by Cincinnati city council on August 5.

In June, council approved similar five-year lease agreements with dunnhumbyUSA, including $1 per year for a 1.1-acre right-of-way and 158 surface parking spaces in an adjacent lot for a monthly rate of $60 per space.

Previous reading on BC:
Additional parking OK'd for dunnhumbyUSA expansion (6/25/09)
Lease, parking agreement could aid dunnhumbyUSA expansion (5/21/09)
'Hybrid' of four Brent Spence alternatives recommended (5/13/09)
Cincinnati budgets for expanded dunnhumbyUSA parking (12/22/08)