Tech Hub Heads for Virtual Auction Block

Another Dayton-area property is heading to the auction block.
National Composite Center

National Composite Center

The National Composites Center in Kettering is the latest local property slated for a late August trip to the virtual auction block.

The 196,000-square-foot facility will be sold in a live online auction scheduled for Aug 26. Located on a 15-acre site at 2000 Composite Drive, the center is home to seven companies, among them Airbus, Honeywell, and the University of Dayton Research Institute. Together they occupy 68,582 square feet.

“The center has played an important role in the area’s economy over the years by providing manufacturing space, offices and even conference space to companies exploring new frontiers in the development of new composite materials,” said Rich Kruse, president of SVN Gryphon Parker, in a statement. “The buyer of the facility may choose to continue using it for the same purpose or may phase that out as leases expire and pursue another business model.”

Kruse added that the center’s current tenants are providing almost $32,000 per month in revenue. Fully rented at the $5.25 per square foot current rate, the facility could bring its new owner well over $400,000 per year.

SVN Gryphon Parker L.L.C. will manage the sale. Online bidding has already started on www.gryphonparker.com and will continue until the start of the live auction later this month.

Another local property headed for an online auction late this month is the Class B office building at 111 W. 1st St. in Dayton. Scheduled for Aug. 27, the sale will be overseen by CBRE.

Photo credit: National Composite Center – Facebook