With this purchase, Riegel’s real estate businesses will control — or be positioned to control — key buildings on three of four corners of the core downtown intersection of Second and Main streets.
The Dayton Daily News reported last month that Arkham Red — another real estate company managed by Riegel — negotiated a leaseholder sale for the KeyBank tower with THMG 10 West Second Street LLC, which held that building’s leaseholder rights.
The city of Dayton owns the land on which the KeyBank building sits, as well as the “air rights,” meaning the actual office tower, Dayton officials said last month.
Arkham Red will have the option to buy the KeyBank property and land if Riegel makes significant renovations, fills up tens of thousands of square feet of office space and gets a certain number of people to work in the building.
Riegel was traveling internationally Tuesday. Asked if he bought the Premier property, he told a reporter he would be available to comment later.
While Premier representatives declined to discuss the building’s new owner, in a statement, the company did say Tuesday it was important to Premier leaders that the new owner at 110 N. Main be local and locally involved.
“We are delighted that this will remain the case,” Premier said. “The new owner also intends to ensure that the building remains an asset to the greater Dayton community, which is also important to us.”
Premier Health has been working to sell the office building since January this year. The healthcare business said it will remain a tenant, even as a pandemic-inspired global revolution in work habits reduced the number of workers showing up at the office.
About 250 Premier employees work in the building on a typical day, the Dayton Daily News was told Tuesday. That number does not include other tenants in the building.
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