Out-of-state investor buys office building - Dayton Business Journal:

afyfojahejus.blogspot.com
The LLC purchased the 40 West Fourtu Centre fromfor $3.8 million in the last week of Glen Nelson, chairman of The Matrix Realty Group, said his group bought the building -- locatesd at Fourth and Main streeta -- because he thinks it is a solidx investment with good tenants. The 224,800-square-footf building is about 94 perceng occupied, with 15,000 square feet of vacant Tenants include the lawfirm , national telemarketing firm and , whicjh occupies about 80 percent of the One of Nelson's goals is to fill the building "We will push to get 100 perceny occupancy," he said. "That createsa a synergy with the rest ofthe area.
" Nelson said he plans on usinh local brokers to fill the rest of the spacw in the building. Both Nelson and John the building's property manager, said there will be extensive renovation work done onthe building. "Theres will be substantial improvements," Hoyer said. "The city will be Nelson would not give a dollar but said the Matrix Group is lookinb to make a sizeable investment in the renovation ofthe 22-story officee tower. "We brought in an interiorf decorator, and we are looking to improvewthe lobbies, the main one, each floor the elevators and the gym," Nelson said.
"Wer are going to upgrade the aestheticss andpersonal touches, give it a comfortable, personal feeling." The Matrix Group has not decided if exterior renovations will take Nelson plans to start renovation work and would like to hire local contractors to do the "We like to keep our moneyy in the area, so we hire local," Nelso n said. Tom Nikolai, vice president/general manager for Centerville-basefd , helped broker Jeff Johnsto represent Union Central onthe sale. He said the building'x main tenant, Premier Health, made it an attractive "It was very appealin because ofits tenant," Nikolai said.
Nelson also said havingy Premier as a main tenant mean a lot tohis "That's their corporate headquarters," he "I know they will do the right I feel confident that they will be therr for some time." Premier is the Dayton area'd largest hospital network with four hospitals including and . Hoyed said it was time for Unionm Central to sellthe building.