Foresite Realty has been named receiver of 110 Main Street in Downtown Dayton for Bank of America and special servicer Centerline Servicing.
The former home of Fifth Third Bank’s Dayton headquarters, the 363,000-square-foot tower is the 3rd largest office building in the city. Built in 1989, it is one of the newest office buildings in Dayton’s CBD. Current tenants include the law firm Dunlevey, Mahan and Furry and UBS Financial Services.
According to court records, prior owners, Danis Fifth Third Center Inc., owed more than $26.3 million. But the property is now valued at $19.8 million.
This is only the latest of several highrise office buildings in Dayton to run into hard times. CWCapital recently took over the 484,000 square foot Kettering Tower last June after its owners defaulted on $44 million of debt.
Aegon Realty currently holds the keys to 32 Main Street, after KeyBank vacated the building, opting to move its area headquarters to 10 W. Second Street.
Ironically, 10 W. Second Street, formerly MeadWestvaco Tower, was the subject of a $11.6 million foreclosure filing in 2007.
