CINCINNATI - Procter & Gamble Co. is selling one of its downtown Cincinnati office properties, relocating about 200 employees into its main headquarters complex.
The Sycamore building, at 299 E. Sixth Street, is listed for sale at $6.5 million, according to Loopnet.com. The listing indicates P&G will vacate the property by November.
"We continually look at our business needs, and in this specific case, the office space required," said P&G spokesman Bryan Mccleary. "In the case of the Sycamore building, we are rearranging our office footprint by moving our remaining 200 people there to our two larger downtown buildings."
P&G has been in a cost-cutting mode for several years, eliminating more than 7,500 positions in the U.S. and Europe. In December, P&G Facilities Manager Larry Bridge told WCPO that the company's downtown real estate needs were changing and would likely shrink.
McCleary said P&G hasn't been using two of the building's nine floors.
"We lease the first floor to Cintrifuse and a portion of the second floor is leased by the Port Authority," he said. "The remaining floors are occupied by P&G's legal division and portions of our sales team."
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