This article appeared in the Cincinnati Business Courier and on WLW Radio
Written By: Tom Demeropolis Senior Staff ReporterCincinnati Business Courier
Demeropolis covers commercial real estate and development.
A group of investors led by Schueler Group purchased 128 acres of land in Turtlecreek Township along Interstate 71 for $1 million.
The group, Interstate-Lebanon Farms LLC, purchased the land at the northwest and northeast corners of I-71 and State Route 123 for future development. Jeff Eichhorn, executive vice president with Schueler Group, said the property is in the firm’s sweet spot.
“It’s right in the path of progress,” Eichhorn told me. “We’re looking at a lot of long-term growth.”
The 19-acre property at the northwest corner of the intersection is planned as retail and commercial space. Possible uses for this piece of the property could be a hotel, restaurants and retail.
The land Interstate-Lebanon Farms purchased is being marketed with another 45 acres of land owned by Henkle Schueler and Associates. The larger 154-acre property at the northeast corner of the intersection is being marketed for a combination of uses. A 39-acre portion of this property could be used for distribution, fulfillment or industrial development. The remaining 115 acres could be residential or commercial with visibility along I-71.
New sewer lines are expected to come to the site, opening up large development tracts.
The acquisition follows Schueler Group’s long-time strategy of buying and holding land for future development. In July 2016, I reported on Schueler Group leading a group of investors in the purchase of 105 acres in Lebanon for development.
“We believe in land,” Eichhorn said.