A growing Cincinnati financial technology company has signed a lease for move-in ready office space in the suburbs.
Tesouro, a financial services provider, has signed a lease at the Rookwood Tower in Norwood. The deal was completed and announced Nov. 15 in a news release.
JLL’s Michelle Klingenberg, Josh Gerth and Britney Aviles represented property owner Matrix Holdings in the lease. Jordan Weidner with Cushman & Wakefield served as the tenant representative.
Tesouro brings Rookwood Tower, located at 3805 Edwards Road, to 83.4% occupancy.
Tesouro is an “acquirer processor,” targeting SaaS, or software-as-a-service companies that want to embed payments into their platforms. It launched in recent years and was one of Cincy Inno’s Startups to Watch in 2023. Little information about the fintech company has been released, though it calls Ohio venture firm juggernaut Drive Capital as its largest backer.
Tesouro also is growing, according to the release.
“Given the ever-evolving nature of our industry, we knew we needed to find an office quickly that would provide high-quality amenities, with the ease and convenience of occupying fully furnished space,” Chief of Staff Kimberly Donovan said. “Rookwood Tower is a beautiful, move-in ready location that will help us seamlessly transition into a new office as we grow.”
Tesouro has leased a speculative suite, which means the space is furnished and move-in ready. Pre-furnished spaces are quickly becoming a boon for landlords or companies looking for tenants – like General Electric’s former Global Operations Center at the Banks. GE announced it’s removing all remaining employees from the building in 2024, but the furnished, modern space has already attracted several companies looking to sublease at the building.
The move also represents the continuation of the flight to quality trend as companies tout building amenities to lure employees back into the office.
Rookwood Tower spans 163,554 square feet and is Class A office space. It has onsite management, state-of-the-art conference rooms, parking and 9-foot ceilings with panoramic views. It’s also located nearby Interstate 71 with abundant neighboring retail at Rookwood Commons and Pavilion.
“We’ve seen more organizations look for turnkey spaces, and Tesouro is leading the way on the growing trend of pursuing speculative office suites,” Klingenberg, senior vice president at JLL, said in the release. “This is part of a larger move to offices that meet demands for preferred amenities and location, while allowing tenants to easily resume operations.”
