Author: By Christian LeDuc – Staff reporter, Cincinnati Business Courier
A prominent Cincinnati tech entrepreneur and businessman has listed his vacant suburban office complex for sale.
Mark Stuhlreyer has priced his 18.4-acre property at 4400 Port Union Road in West Chester Township at $12.75 million.
The property consists of 93,814 square feet of leasable office, storage and flexible space. Most of the office spaces are fully furnished. Other unique amenities include a gym and even sleeping quarters.
The property was listed for about a year through a different organization. But Stuhlreyer pulled the plug due to lack of movement, he said. He awarded 3CRE’s Nick Pesola the listing in November.
The property is zoned for M-2 development, which means it can be used for manufacturing and warehousing, but it has mostly functioned as an office complex, Pesola said. Many of the vacant buildings are advertised as flex spaces in the listing. Flex spaces essentially give a tenant the opportunity to work, store and operate in one building, according to Pesola.
“It is no secret that large office demand is declining nationally, but we see a lot of demand for light industrial and flex spaces on the market,” Pesola said.
It’s a trend he sees continuing for many years to come.
Flexibility is key to selling the property, according to Pesola. While the entire property is for sale, he’s working concurrently to lease the available spaces with 3CRE’s Olivia Page and Andrew Mattei. Pesola’s hypothesis is that as the site fills with tenants and is generating income, it will be more attractive to a buyer. Currently, the Butler County Auditor values the property at $4 million.
Pesola and his team backed into their $12.75 million evaluation based on its income potential.
“When the property is leased up, you are no longer valuing the property on price-per-square-foot comps,” Pesola said. “You are evaluating it on net operating income.”
The property also has development potential. There is space to build an additional 100,000 square feet on the existing acreage.
Stuhlreyer purchased the land in 2007 and gradually expanded development into a total of nine buildings. The complex became the headquarters for his technology company Contingent Network Services. When he sold the company to Comcast Corp. in 2015, it was the Cincinnati area’s ninth-largest IT firm.
Comcast operated out of the facility until May 2025.
The property is served by multiple major fiber-optic carriers including Altafiber, AT&T, Lumen, Zayo and Spectrum. And in a perfect world, Stuhlreyer is hoping to partner with a younger tech company that could take advantage of the infrastructure already available on the site.
The property is perfect for an AI data center, he added.
“For the right tenant, the landlord is willing to invest money into the space to get it to where they need it to be,” Pesola said.
The extent of the investment from Stuhlreyer was not disclosed.
Stuhlreyer is also president of March First Brands, an industrial micro-brewer whose portfolio includes March First Brewing, FigLeaf Brewing, Cincinnati Distilling and Astra Hard Seltzer.
In July 2025, March First closed its Fountain Square taproom, bottle shop and Cajun/Creole restaurant Laveau.
The company also operated Woodburn Brewing in East Walnut Hills, which closed in April. The organization has been growing its retail presence. Cincinnati Distilling has a storefront in Kenwood Towne Centre that opened in late 2024. There are also plans to open a location at the Polaris Fashion Place in Columbus. In addition to the retail sector, the brand also operates a bottle shop, bar and kitchen in Milford.
