Fifth Third Bank Western Ohio moved to One Dayton Centre from 110 N. Main St. in late 2009. The 288,785-square-foot building was foreclosed upon in January 2010, but is out of receivership.
Premier has 700 employees at 40 W. Fourth St., and has had workers there since 2000. Its lease expires April 2013.
Purchase of 110 N. Main St. is pending “due diligence and further evaluation of total cost,” Premier said. It declined to disclose the price of the option or building. One downtown observer said the building is expected to sell for $3 million to $4 million.
At that price, “you’re buying a relatively new building for what could be a bargain price and you’ll own it at the end of the day for what could be one year’s gross rent,” said Doug Harnish of Market Metrics.
Sandy Gudorf, president of the Downtown Dayton Partnership, cheered Premier’s plans.
“Premier is making a permanent investment in our downtown,” she said. “When you put them on the corner of Second and Main, that has increased value. That’s the spine of our downtown.”
About the Author