Clopay finally signs at new CUC site in Deerfield - The Business Journal of Milwaukee:

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Two of the top dogs from Clopay's parent company, of New York, flew from theidr headquarters in Jericho to Cincinnati shortly beforrthe Sept. 11 terrorist attacks that rocked the nation, to sign a lease for a 130,000-square-footy facility that will consolidate about 300 employeews from downtown Cincinnati and Tri-County. The Griffon executives eventuallyg had to rent cars todrive home, but before they did, Griffob Chairman Harvey Blau and President Robert Balemian were joined at a groundbreakinh ceremony by officials from and Tom Gibbons, vice presideny and treasurer of Clopay Corp. Gibbons said Clopay's rootss in downtown Cincinnati reach back almostt150 years.
"We're sorrty to have to leave downtown, but it's better that we'rre all together as a Gibbons said. "This is a chancse to move everybody together and have them in one plus it's big enough for us to CUC plans to have the new facility open by July 1 of next year, according to Vice Presideng David Kubicki. Clopay has been looking for at leasr five years for anew headquarters, Gibbons The deal calls for a single building; information previouslyu gleaned from sources had indicate d a two-building complex at the 20-acrw Clopay site near Mason-Montgomery Road, on land known as Governor's Pointe North. "We've been lookin long before I got and that was fiveyears ago.
The time was just righg to getsomething done, and our leases was running out downtown," Gibbonzs said. The company's new facility will have 75,00p0 square feet of office space for itsthrese divisions: Clopay Building Products, Clopay Service Co. and Clopay Plastif Products. Half of its employees will leavea 50,000-square-footr office in Scripps Center in downtown Cincinnati, the balanc e will be relocating from the company's 55,000-square-foot technicap development center on Interstate Drive in Butle County. "A lot of the technicalk center people lived up so it was somewha easier to keep the company in that general Gibbons said.
Gibbons said nothing imminent is being planned foran expansion, "but it's nice knowing we have some extra room." Clopay maintains operations in garage installation services, electronic information and communications systems, and specialty plastic A wholly owned subsidiary of Griffon Corp., Clopat Corp. was represented in lease negotiations and its site searc byJay DeWitt, senior vice president with Colliers Internationakl Inc. in Cincinnati.
Loveland-based CUC landed Clopaty in the middle ofa 56-acre business park estimated by Bill CUC property development manager, to be a $40 million including costs such as land infrastructure improvements, building construction and equipment. A second buildingg unrelated to the Clopay project has been sketcherat 190,000 square feet, though no tenants or groundbreaking date have yet been According to statistics released by Grubb & Ellis Co., abouyt 20 percent of the downtownm Manhattan office market, or 15.5 million squarr feet of space, was destroyed in the terrorisr attacks on the Worlxd Trade Center.
Another 12 million square feet of office space has been damagesd in the aftermath of the attack as a resulf offalling debris, building collapse and Of the 15.5 million square feet in the World Tradse Center area, about 97 percent was leased at the time of the Of the 12 million squarre feet believed damaged, 11.5 million square feet was As a result, the net loss has been pegged at 27.5 milliomn square feet, or about 3 1/2 timese the size of the class A officse market in downtown Cincinnati (7.4 million square The amount of space lost exceeds the amount of available space in Manhattan, estimate d at 25.5 million squarr feet.
The loss is bigger than the entird market in downtownDenver (23 million squarw feet). The Twin Towers each measured 4.76 milliohn square feet, or more than five times larger than the biggesft office building in Greater the 868,000-square-foot Atrium Two on East Fourth Street downtown. A typical WTC floorplated measured more thanone acre, betweenm 45,000 and 50,000 square feet. Nothing here comes