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Company reportedly buying downtown Dayton PNC bank building

Published: Friday, October 06, 2017 @ 11:25 AM
By: Cornelius Frolik - Staff Writer

A Canadian company that bought and quickly filled an underused office tower in downtown Dayton is looking to expand its presence in the urban core.

Quebec-based Olymbec reportedly told a group of people Thursday that it is buying the PNC bank building at 6 N. Main St., which the financial company vacated when it moved into a new office building in the Water Street District.

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A company representative made the announcement Thursday during a downtown development tour, according to multiple people who attended the event. The PNC signage on the front of the building was removed Thursday.

This news organization has contacted Olymbec to seek comments.

The PNC Bank building only has a few tenants remaining, including CityWide, Business Furniture and law firm Bieser, Greer & Landis LLP.

The seven-story building, which opened in 1981, was designed by I. M. Pei, a famous Chinese American architect whose other work includes the famous glass and metal pyramid entrance at the Louvre Museum in Paris, France, and the JFK Library in Massachusetts.

The seven-story PNC Bank building, once the Gem Savings building, has a massive atrium and many rows of windows that face Courthouse Square.

“It’s the most functional office building in town and the best downtown office building and it’s beautiful architecturally,” said David Greer, partner with Bieser, Greer & Landis.

RELATED: Hundreds of jobs moving to downtown fuels confidence in office market

Olymbec purchased the 11-story 111 W. First St. office tower in 2016 with plans to renovate the building to attract new tenants.

That acquisition paid off when Taylor Communications — formerly Standard Register — agreed to lease eight floors of the building to move 500 or more employees into the Central Business District.

Earlier this year, Olymbec’s vice president of leasing Michael Matthews told this newspaper that his company was bullish on downtown and was looking to buy more properties.

RELATED: Taylor Communications to move hundreds of workers downtown

Office buildings in Dayton are cheap to buy, and new and successful housing downtown points to continued urban renewal, he said.

“We think the arrow is pointing up for Dayton,” Matthews said.