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Monday, February 20, 2017

H/R Real Estate Acquires Property on Monmouth Street in Newport For Headquarters

Clay Horan and Adam Rosenhagen in front of their new building they purchased to host H/R Real Estate headquarters. FTM file. 
An emerging northern Kentucky real estate brokerage has closed on the sale of a building for their new headquarters in Newport.

H/R real estate partners, Clay Horan and Adam Rosenhagen bought 920 Monmouth Street earlier this month for $175,000. It is a 2,400 square foot single-story commercial store front located next door to the Newport City Building, Police and Fire Department.

The building has some history.

The building was previously occupied by Intelligent Phone Systems most recently, but prior to that during Newport's Sin City Years, the building was home to The Top Hat - a small bar and musical venue.

Previously, Horan and Rosenhagen were working out of the Vennefron Signs Building at 2106 Monmouth Street in Newport.

"The location and the city's focus on development fits well with the overall vision we have for our brokerage," said Rosenhagen.

The Campbell County YMCA. This is an advertisement. 
"Monmouth Street gets a great amount of vehicle and foot traffic throughout the day. The new and existing businesses surrounding the building also provide a great atmosphere, and should also help increase our exposure."

Rosenhagen said that once the renovation is complete, the building features will provide a modern, urban industrial setting for their agents and clients.

Since partnering together in April of 2016, Horan and Rosenhagen have grown the agency to five full-time agents and because of the hot northern Kentucky real estate market, are looking at more plans for growth.

"The Vennefron Building was a great place for us to get established, but with the growth of agents we needed more square footage," said Horan. "The new building will also help increase our exposure, and build our brand. We have a firm time frame to complete renovations on the building and plan to be fully operational at the new location on our one year anniversary of opening the brokerage in early April."

920 Monmouth Street. Via Google. 
Rosenhagen and Horan, who said they both had great relationships with their past brokerages, said they always had the goal to own their own brokerage.

"With the market as busy as it was, and has been, we knew there was never going to be a good time to make the jump. We set a date to be up and running, and stuck with it," said Rosenhagen.  "Things have been going very well. We've added a few agents, and every agent's sales numbers have increased from the previous year. "

If you've tried purchasing a house in northern Kentucky lately, you know that the market is booming.

"The northern Kentucky real estate market is thriving. The lack of inventory on the market is helping property values to increase, and driving competition amongst buyers. Fort Thomas and the surrounding areas are going for a premium, and they're going fast," said Horan.

Rosenhagen agreed with those sentiments.

"The Fort Thomas real estate market is absolutely insane! Many properties are selling before they hit the market. If the property does make it to market it's typically under contract immediately." 

H/R Real Estate plans to be licensed and selling in Ohio by mid-March.

Said Rosenhagen:

"That will help us diversify our target markets and attract more great agents. We hope to grow enough to have multiple locations in the tai-state."

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