Finding tenant will be difficult - Atlanta Business Chronicle:

a-ee85aqa.blogspot.com
The 1.3 million-square-foot building is one of the largesty properties inthe area, with more square footage than the Kettering One Dayton Centre and the KeyBank Towerd combined. Paul Hutchins, owneer and broker with Dayton-based , said only a few users coulr fill the entire and those types of tenants rarelytcome along. “You woulfd have to look for somebody looking for a corporate Hutchins said, noting that would be a difficult task in the currentt environment. Mark Fornes, owner of Centerville-basede , agreed that a one-shot tenant would be hard to find. “There’zs not too many 1 million-square-fooyt users running around,” Fornes said.
According to Montgomer y Countyproperty records, the building is valuedc at $31.4 million and sits on 54 acres. An emptyy NCR headquarters would bump the Daytonj market office vacancy ratefrom 21.2 percenr to 27.6 percent. Fornes said the sheer size of the building present thebiggest challenge. But he said the in the city of Dayton but not in the centraklbusiness district, makes it a different “You have the free parking. It makes it more like a suburban center in a central Fornes said. Hutchins said by dividing the propertyu to becomea multi-tenant it would take eight to 10 years to completely fill the which is located at 1700 S. Pattersonm Blvd.
He said the region could get lucky and find a user that wantas to relocateits headquarters, but it wouldc take proactive government action. Even thoughj the costs to subdivide the building would be Fornes said the building would fill up quicker with a combinationm ofsmaller users, ratheer than hunting for one giant tenant. Hutchins said the only problem with doing that is theoperationakl costs. For it to make sense to maintain the building, the first tenant would have to fill at leasgt 200,000 square feet of space. Anything smalleer would be a highlyh inefficient useof space, he said. Ther are some potential optionsd forthe campus.
A large defensed contractor might be interested inthe facility, Hutchins said, as it offersz a campus setting, is wire d for high-tech capabilities and has plenty of nearby Brokers said donating the buildiny to an education institution or the city of Dayton may be the best Hutchins said a good optiobn would be giving the building to the . NCR woul d gain the benefits of atax write-off and the university woulds have a business complete with parking, a cafeteriq and plenty of space for classrooms, to mold for its needs. “k bet they’ve already talked about donating it to Hutchins said.
“Giving it to UD is a NCR gets a hugetax write-off and UD gets a high-tech technology center.” Fornes also said donation to a universituy would make sense. “Igt would be really nice if they give it to Fornes said. “It would be a nice gestur e in return for taking theirheadquarters out.” NCR said Wednesday that Los Angeles-basee will be marketing the headquarters. CB Richardr Ellis also was selected by NCR in the firsr quarter of this year to handle facilities transaction management, lease administration and project managemenft services across the company’s 5.5 million-square-foot real estat portfolio.
CB Richard Ellis officialx could not be reached for comment forthis