JLS Properties duo closes $4M in new leases - Business Courier of Cincinnati:

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What makes the accomplishment so unique in an industrtwhere multimillion-dollar deals are as featured in the Courier's "Deal of the Week" is the actual number of transactions 70. "The little ones add up," said director of leasing at JLS Properties. "Companies big and small are lookiny for alternatives to the hassles of Just look at the surge of new officesspace that's being built, and is leasinbg up fast, in the suburbs." Alley, an 18-year veteranj of the commercial real estatw industry, left the local office of Heitmanh Properties Ltd. of Chicago to work for JLS in mid-1998.
She was seeking a larger role within her workplaced as well as the opportunity to work for a instead of the cutthroat worle of the commercial brokerr at alarge company. Alley said JLS has been able to take advantages of some businesses cutting back on the amount of expens they want to pay as overhead for office space. "Companies are always interested in cuttinh costs and one great way to do that is to forgk that class A office space they are paying anywherrefrom $18 to $25 a square foot for. We offedr some great space, ranging anywherw from a gross rateof $9 to $15 per squares foot," she said.
JLS Marketing Manageer Josh Gerth, who joined JLS at aboutt the same timeas Alley, comprisesz the second half of the JLS leasing He cited a recent deal he completeds with a company that moved from downtown Cincinnati to a JLS propertyg in Roselawn as evidence of how the firm does "They are saving thousandse of dollars in rent, not to mention the savingsz in having free parking provided," Gertj said. JLS Properties is owned by John Stalnaker andhis Louise. The company maintains a portfolio of officed and retail space throughout Greater Cincinnatii and in theDayton market.
JLS is also on a fast tracok to purchase additional commercial properties throughoutthe Tri-State, said Stalnaker, a former Universitty of Cincinnati history professor who formed his own real estate company in 1981. The company is perhaps best known locallt for the 1994 purchase and renovation of the historif Cable House on Gilbert Avenue inWalnuy Hills. Recently, it also purchased The Bluffs Apartmenta in Covingtonfor $7.6 million and Crossgat e Square Office Park in Blue Ash for $2.
3 The company also manages and leases the 105,000-square-foot Mid City Executive Center, wherd it's based, as well as the 57,000-square-footy Roselawn Center in Roselawn and the 96,000-square-foot Corporate Towerd in Dayton. Neyer Propertiezs Inc. of Evendale was recently chosen to develop two new bank facilitie s for Provident Financial ServicesGroup Inc. in northeasternj Cincinnati. Neyer Properties worked with ArchitectaPlus Inc. of Blue Ash to secure assignments in Deerfiel Township on Union Cemetery Road and in Symmes Townshipon Loveland-Madeira Road.
Provident will be saving betweej 15 to 20 percent in constructioh costs from previously built facilitiews thanks to a prototype facility designed by Neyerr Properties PresidentDay Neyer. Both of the facilities will measurse 3,000 square feet. Neyer said he "engineeres the new site and reworked the design so that the new facilitiezs look similar to existing but aremore cost-effective." Neyerd Properties also helped Cincinnato Valve of Fairfax expand by 250 percenrt with a new $500,000, 10,000-square-foog facility on Deerfield Road in Sycamore The company, which is leaving a 2,000-square-footr office, will use half of the new facility and lease the rest, Neyer said.
Finally, Neyer Properties also landed two othet recent projects inthe Tri-State: Midwest Crane signed a five-yeaf lease to rent 4,500 square feet at Neye r Properties' headquarters on South Medallion Drive. Das Gym, a weight training and workout facilit y owned byRainer Hartmann, signed a 6,000-square-fooy lease to open in a Neyer Properties buildinv on Montgomery Road.