Office – Springfield skyscraper now has space available

The 13-story Credit Life building in downtown Springfield, OH

1 S. Limestone – Class A Office Space

Available as of 6/27/2009

Government consolidation makes space available

On March 27 of this year, the Industrial Commission of Ohio and the Ohio Bureau of Workers’ Compensation consolidated the Dayton and Springfield offices into Dayton, vacating the entire fourth and fifth floors of the Credit Life Building.  Each floor is 12,400 square feet, and owner Jim Lagos is offering a rate of $12.00 per square foot gross, all costs included (taxes, insurance, utilities).  In addition, there is 6,000 square feet on the third floor ($13/sf), a small office on the 10^th floor ($500 per month gross) and two suites on the first floor (each $1000 per month gross).

Architectural design

At 13 stories (depending on how you count), the Credit Life Building is the tallest building in Springfield.  It was designed by Skidmore, Owings and Merrill, a Chicago-based architectural and engineering firm, which designed the John Hancock Center (1969) and the Sears Tower (1973).  In the late 1970s, the firm designed a modernist, metal and glass skyscraper for the Credit Life Insurance Company.  The building was completed in 1975 for the company, and was sold in 1992, when Credit Life was purchased by the Union Fidelity Life Insurance.

New ownership

Jim Lagos bought the building in 1992 and has invested significant funds to upgrade it, most recently with a new 2008-technology York Latitude chiller and a Generac back-up generator, at a combined cost of over $500,000.  Each floor has 300 phone lines, two sets of male/female bathrooms with Corian countertops, and various upgrades from special light-restricting blinds to imported Italian cloth on the walls.

Property Type:	Class A Office Space
Secondary Type:	Data Center, Call Center
Building Size:	124,000 sf
Total Space Avail:	30,000+ sf
Annual Rent:	$13.00/sf NNN
Annual Op. Expense:	included
Land Area:	0.43 ac
Lot Dimensions:	—
Year Built:	1975
Parking:	365 garage spaces
Other Tenants:	Ren. Services, Martin Browne, Spencer & Assoc.
Owner:	Jim Lagos
Company:	Lagos & Lagos
Email:	jameshlagos@lagoscentral.com
Phone:	(937) 323-5555
Additional Contact:	Lisa Behr
Company:	Lagos & Lagos
Email:	lisabehr@lagoscentral.com
Phone:	(937) 323-5555

>> Picture Collection – over 100 pics – http://bit.ly/2jixSp

>> DBJ article on BWC and Industrial Commission leaving – http://bit.ly/3aQF8w
>> Miller & Fazio property description – http://bit.ly/xkeMo
>> GIS property data – http://bit.ly/xffhr

>> Story on how Credit Life started group credit insurance – http://bit.ly/oO5Ji
>> Union Fidelity Life Insurance (current co) doing well – http://bit.ly/sCqGP
>> when Union Fidelity bought Credit Life (1993) – http://bit.ly/Ee0y