This downtown Dayton building will be up for auction next month

The Fifth Third Center sits at the southwest corner of Main and Third Streets in downtown Dayton. The building was constructed in 1989. LISA POWELL / STAFF

The Fifth Third Center sits at the southwest corner of Main and Third Streets in downtown Dayton. The building was constructed in 1989. LISA POWELL / STAFF
Business
By
Oct 17, 2019
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The Fifth Third Center building in downtown Dayton will be on the auction block next month. The starting bid is set at $2.25 million.

The 343,236-square-foot class A office building at 1 S. Main Street is 38 percent occupied with about 212,000 square feet of available space ready for lease, states a Real Insight Marketplace web site detailing the auction.

The auction is set for 11 a.m. Nov. 4 to 12:20 p.m. Nov. 6. For more information or to register for the auction, visit https://marketplace.realinsight.com/sales/details/524.

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One of the most recognizable downtown buildings, the 20-story building includes a seven-level, 420-space parking garage at the southeast corner of West Third Street and South Ludlow Street.

One South Main Street Holdings LLC — linked to to CW Capital Asset Management in Bethesda, Md. — bought the building in January 2018 for $12.5 million from Ducru Spe LLC, along with associated parcels. The building had been mired in a foreclosure process the previous year.

To bid, interested participants will have to register and submit information, including proof of funds. Only liquid funds readily available to the bidder will be counted towards a requested bid limit, Real Insight Marketplace states.

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Thomas Gnau is a business reporter who joined the Dayton Daily News in 2007. He has reported for daily newspapers in Ohio since 1991.