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Premier Health Partner Purchases $6 Million Building in Downtown Dayton
Home \ News April 18, 2011
Premier Health Partners has completed its purchase of one of downtown Dayton’s largest buildings and will relocate its corporate services in a commitment to downtown.
The company, the largest hospital system in the region, had said recently it made an offer to buy the 110 N. Main St. building. The nearly 300,000-square-foot tower was formerly known as Fifth Third Centre. The purchase price was roughly $6.19 million, or about $20 per square foot, according to Premier officials. The estimated replacement value is approximately $200 per square foot.
The property will be used to house corporate services for the organization, including information technology, scheduling, billing, finance and others. Premier has 700 corporate staff members currently working out of the 40 W. Fourth St. building.
The company’s current lease at the 40 W. Fourth location runs through April 2013.
“Premier Health Partners has a strong commitment to downtown Dayton and this solidifies our commitment well into the future,” said Jim Pancoast, president and CEO of PHP. “This was a sound business decision that provides a positive economic impact for the downtown core of Dayton, which ultimately affects the entire region we serve, and enables us to provide a more modern facility for our employees.”
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