DunnhumbyUSA Breaks Ground on New Downtown Cincinnati HQ
By Adrian Maties, Associate Editor
DunhumbyUSA broke ground on Jan. 31 on its new headquarters building at Fifth and Race streets in downtown Cincinnati. Hundreds of people were present at the groundbreaking ceremony, among them Cincinnati Mayor Mark Mallory and other city, state and company officials.
Dubbed the ”Dunnhumby Centre,” the new building will cost $122 million to build. It will sit in the heart of downtown and will have 280,000 square feet of office space, 30,000 square feet of street-level retail space and an above- and below-ground parking garage with 1,000 spaces.
The Dunnhumby Centre will have nine floors and will cover half a city block. Its garage will feature three above-ground floors and three below ground. The above-ground garage floors are taller than usual, making the structure the same height as a 14-story building. This feature will give dunhumbyUSA the possibility to expand in the future.
The city of Cincinnati, the state of Ohio, the Cincinnati Center City Development Corporation (known as the 3CDC) and dunhumbyUSA are all working together on the project. The city owns the site. Turner Construction Co. is the construction manager, with Gensler Architects as the project designer.
The project will be funded through new market tax credits, state and conventional loans, private capital and corporate loan funds managed by the 3CDC. Construction is expected to be finished in December 2014.
Mayor Mallory called it ”a truly great day for the city of Cincinnati” as he expressed his happiness that a long-vacant lot in the heart of the city’s downtown will soon be turned into a world headquarters and that dunnhumbyUSA, one of the fastest-growing businesses in the region, will not be leaving the city. DunnhumbyUSA now has 650 employees in Cincinnati and plans to grow to 1,100 by 2018. The project is also expected to spur further development and lead to the revitalization of Race Street.
Charts courtesy of Marcus & Millichap.Tags: Cincinnati, Cincinnati Lead Story, Commercial Real Estate, construction, Developers, Development, Dunnhumby Centre, DunnhumbyUSA, Economy, Local, marcus&millichap, mark mallory, National, Office, Regional