NKY Office Building Near CVG Recently Purchased

From The Cincinnati Business Courier:

NKY OFFICE BUILDING NEAR CVG SELLS FOR $26 MILLION

Investors purchased the Northern Kentucky office building that is home to Atlas Air Inc.’s operations center, for nearly $26.4 million.

Arch Street Capital Advisors and VEREIT Inc. have acquired the newly developed, 100,000 square-foot office building, located near Cincinnati/Northern Kentucky International Airport. The acquisition is part of Arch and VEREIT's partnered venture focused on the acquisition of long-term leased, single-tenant office assets.

In a news release, VEREIT executive vice president and chief investment officer Thomas Roberts said the property's strategic location near global shipment hubs, like Amazon's under construction Prime Air hub, made the acquisition a strong investment.

Atlas Air, a subsidiary of New York-based Atlas Air Worldwide Holdings, occupies the entire building, which is located in Erlanger at 580 Atlas Air Way. Atlas Air signed a 15-year lease for the entire three-story office building in 2019.

Al Neyer developed and built the office building, which finished construction of the facility at the end of 2020.

Read more from the article here.