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News Update

Miller-Valentine Group and Equity, Inc. Purchase Office Site at Red Bank

Contact: Brian Copfer
Miller-Valentine Group
513-774-8400
Brian.copfer@mvg.com

or

Beth Mehlberth
Edward Howard
937-228-1141
bmehlberth@edwardhoward.com


Miller-Valentine Group and Equity, Inc. Purchase Office Site at
Red Bank Village
Site slated for office building

Cincinnati, OH (February 6, 2009) Miller-Valentine Group announced today that it partnered with regional commercial broker and developer Equity Inc. to purchase a 2.5 acre parcel of land at Red Bank Village. This purchase is the third parcel that Miller-Valentine Group will have developed at Red Bank Village. The site is slated for an office building.

"Equity is the perfect partner for us on this project," noted Brian Copfer, Partner and Executive Vice President, Miller-Valentine Commercial Development. "Equity has a strong track record in marketing and brokering medical office buildings and has particular strengths in this particular region of the city."

"The continued positive growth of healthcare real estate and limited class A general office vacancy on the Red Bank corridor make this an excellent opportunity," said Greg Gillott, Regional Vice President, Equity Inc. "The versatility of the site coupled with its excellent location along the I-71 corridor will be attractive to healthcare providers and general office users alike."

The first of two 38,000 square foot office buildings developed by Miller-Valentine Group
at Red Bank Village was completed in 2008. The first tenant for that building, Davita Dialysis is opening by the end of the first quarter. The second office building was purchased by Reisenfeld & Associates., a rapidly expanding Cincinnati law firm. Reisenfeld outgrew its former space and relocated to the new corporate headquarters at 3962 Red Bank Road in January 2009.

The Red Bank Village development is a 35-acre mixed use development in Fairfax, Ohio on Red Bank Road. A Wal-Mart Supercenter is under construction and will open in the fall of 2009. Regency Centers will break ground on a 24,000 square foot retail strip center in March. Other retail and restaurant outparcels will follow.

"We remain optimistic about the Red Bank corridor," said Copfer. "This site is unique in that it is one of the rare sites in the Mid-town market that is ready to develop. All of the zoning and infrastructure have been completed."

Parties interested in space in the existing or future building can contact Rob MacLachlan or Brad Ruther from Equity Inc. at 513-336-8765.


About Miller-Valentine Group
Miller-Valentine Group offers total real estate solutions in the areas of Design/Build Construction, Development, Management, and Financing for both commercial and residential markets and also provides Renovation, Brokerage, and Leasing services for commercial markets. All of Miller-Valentine Group's divisions have combined to provide customers with more than 50 million square feet of commercial space and over 9,000 residential housing units. Miller-Valentine Group, founded in 1963, develops real estate in the Midwest and Southeast regions of the country, with offices in Dayton and Cincinnati, Ohio, and Columbia, South Carolina.


Miller-Valentine Group offers a wide range of commercial products, including office, retail, lodging, healthcare, manufacturing and distribution facilities and an equally wide range of residential products, including multi-family, single family, active adult, and military housing throughout the Midwest and MidAtlantic regions.


Miller-Valentine Group has been awarded the prestigious national "Developer of the Year Award" by the National Association of Industrial and Office Properties (NAIOP); Miller-Valentine Construction has been awarded OSHA's Voluntary Protection Program "STAR" designation - the first general contractor to receive this designation on a statewide level.

About Equity, Inc.
Founded in 1989, Equity is a full-service commercial real estate firm headquartered in Columbus, Ohio. Equity specializes in comprehensive self and third-party development, construction, real estate, brokerage and property management services for a diverse range of product types, with a specialty focus in health care and retail. 



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