Two Dayton-Area Warehouses Sell for Over $5M
- Sep 23, 2013
Two large industrial properties in the Dayton area changed hands this month. The properties total more than 300,000 square feet of space and have sold for a little over $5.5 million.
The 172,000-square-foot manufacturing and research facility at 8821 Washington Church Road in Miamisburg was auctioned off last week. It was sold to the highest bidder for $1.3 million. The property sits on 62 acres of land near the new Austin Road Interchange, just minutes from the Dayton Mall, restaurants, banking and service centers. The MEAD Corp. constructed the fully air-conditioned facility in 1988.
The sale included all of the equipment in the building. According to the Dayton Business Journal, the auction was managed by Barry Baker Auctioneers. Chuck McCosh, president of Our Corporate Real Estate Department, was a broker in the sale and told the business journal that the sale will close in 30 days or less, although he did not disclose the name of the buyer.
The second industrial property was sold at the start of September. Canton-based Peoples Services Inc., a logistics and supply chain company, announced it acquired Michigan-based Central Warehouse Operations Inc. from Central Warehouse Co. The transaction closed for $15 million, according to The Canton Repository.
The transaction included the warehouse, at 1280 Industrial Park Drive in Vandalia, along with two other Michigan properties, in Saginaw and Midland. According to Montgomery County property records, the 166,068-square-foot Vandalia property went for $4.25 million. It was constructed in 2000.
Photo credits: Google Maps.