TIC investors pour cash into Midwest office complex

High-profile tenants keep occupancy rate high

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Tenant-in-common investors recently paid an undisclosed amount for the purchase of Washington Park Office Center in Dayton, Ohio. The property consists of two three-story, class A office buildings (Washington Park I and II) totaling approximately 154,000 square feet. Both buildings were constructed between 1988 and 1990 on more than nine acres. Washington Park I and II each feature a three-story atrium, interior plantscapes, swipe-card access systems and a shared 714 space surface lot, which provides 4.5 spaces per 1,000 square feet. At the time of sale, Washington Park Office Center was 92 percent leased to numerous tenants, including Dayton Superior Corp., GS1 US Inc., Eubel Brady & Suttman, UBS, Merrill Lynch, Wachovia Securities and Citigroup Global Markets Inc. TAMME Investments LLC and Washington Park I LLC sold the complex. ...