Purchase achieves high internal rate of return without debt
Atlanta-based OA Development sold 111 Tri-County Parkway, a Class-A office building in Cincinnati, OH, to Wang Brothers on April 8, 2016. The 42,000-square-foot property, built in 1997, is 100 percent occupied by Cincinnati Bell Technology Solutions, which recently extended its lease.
“111 Tri-County was a financial success for OA and its investors,” said Brian Granath, OA Development partner. “The project generated an IRR of 9 percent during the five years we owned the property, which is a relatively high IRR to achieve without debt, and, thus very little risk.”
This is the third commercial building that OA Development has sold. The deal was brokered by Keith Yearout and Jim Vondran of CBRE.
About OA Development
OA Development specializes in buying and developing thriving commercial properties, including office buildings, industrial warehouses and flex properties. The company is delivering conservative, solid results for investors during the new economy.