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Former downtown KeyBank building to close in 2010

Jim Noelker The old KeyBank Building on Main Street is leasing its upper floor.

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By Tim Tresslar, Staff Writer Updated 10:06 PM Friday, November 13, 2009

DAYTON — The downtown office tower that once housed KeyBank will close next year.

The building’s owner, Aegon USA Realty Advisors, plans to shutter all but the ground floor of 32 N. Main St., probably during first quarter 2010, said David Dickerson, president of Dayton-based Gem Real Estate Group. Gem manages the 218,000-square-foot building for Cedar Rapids, Iowa-based Aegon.

Dickerson said Aegon chose to shutter the building, constructed in 1926, for financial reasons. Ground-floor tenants Quizno Sub Shop and The Main Shoppe will remain open, Dickerson said.

“It’s a good solid building,” he said. “It’s just where we are with the market. We have a lot of square footage available, probably too much square footage for the market. In a case like this, the best thing to do was to mothball it and see what happens with the market.”

Dickerson did not have vacancy figures for the building.

Aegon officials did not return calls seeking comment.

KeyBank vacated the North Main Street office tower in 2008 and moved across the street to 10 W. Second St., replacing MeadWestvaco as that building’s primary tenant.

Gem representatives have notified all the tenants about the impending closure and are working with them to find new offices, said Sheri Simpson, a property manager with Gem.

“It is the owner’s desire to make this as easy as possible and we’re working on their behalf,” she said.

Tom Talbot of the law firm Talbot Ducker said Gem Real Estate told him a couple of weeks ago that Aegon planned to close the building.

Talbot, his firm’s sole practitioner, said he expects to vacate the building for new offices by the end of this year. In the wake of KeyBank’s departure from the building, word of the impending closure didn’t surprise Talbot, whose firm has been located inside the North Main Street building for more than 30 years, he said.

“It’s not like we didn’t all know this was coming,” he said.

Vectren Corp., the Evansville, Ind.-based utility that provides natural gas to Dayton, maintains a small office in the building, but company officials plan to look for a new office in the downtown area, said Chase Kelley, a Vectren spokeswoman.

“Certainly it is unfortunate,” Kelley said. “But we’ll look for other opportunities to stay downtown.”

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Who the heck edits this? In the 10 years I worked for Key, that building was always at 34 N. Main St, not 32.

Former Key employee
10:16 AM, 11/18/2009

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Went to UD twenty years ago and downtown sucked back then, and sounds like it's the same deal.
The only way to enjoy a prosperous, growing, and thriving city is to look in the mirror and MOVE! I know it's tough to leave family, but you can do it.

Tim
9:44 PM, 11/14/2009

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Denver also has about 500,000 more people

Duh
7:48 PM, 11/14/2009

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Alright Dayton folk so I flew to Denver this week for the Monday night football game, and I have to tell you, Denver and the western cities are all that. 76,103 people in downtown Denver at Invesco field on a Monday night for a football game, more people in dt Denver in one night then Dayton sees downtown in years. There is allot of housing, restaurants and descent shopping in dt Denver not to mention all sorts of events year round. Dayton is a dump, yet Sandy thinks Dayton is great, loser.

Dunbar Sanderson
4:44 PM, 11/14/2009

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Poorly written story. Presumably to an old Daytonian, this was the 3rd National Building. DDN writers quite often are not aware of downtown history.

jmorris
3:55 PM, 11/14/2009

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