Tech Hub Heads for Virtual Auction Block
- Aug 04, 2015
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.
Photo credit: National Composite Center – Facebook