CHICAGO, IL – Erik Foster and Mike Wilson of Avison Young’s Chicago Industrial Capital Markets Group have been awarded the exclusive sale listing for a 131,150-square-foot industrial facility in Lebanon, Ohio, which is part of the greater Cincinnati/Dayton industrial area.
The building at 2800 Henkle Dr is fully leased to NIBCO, a leading provider of valves, fittings and flow control products for commercial, industrial and institutional construction as well as residential and irrigation markets. This facility is one of NIBCO’s 10 manufacturing and distribution plants globally.
The asset is owned by CenterPoint Properties. CenterPoint focuses on the development, acquisition and management of industrial property and transportation infrastructure that enhances supply chain efficiency.
“This asset provides an excellent opportunity for investors to gain a foothold in the Ohio market with a solid asset and tenant,” Foster said.
Targeted buyers of the property are firms that would include institutional pension funds, public and private REITs, and international investors, the majority of whom would be motivated by the asset’s strong single tenant and the asset’s predictable cash flow.
The building, situated on approximately 10 acres, was built in 1994. The manufacturing space features 24-foot ceiling height, 13 dock high doors, two drive-in doors and column spacing of 40 by 40-feet.
The City of Lebanon is strategically located midway between the Cincinnati and Dayton metropolitan areas, providing easy access to major U.S. markets and suppliers. The property offers easy access to I-71, which leads to both cities.
Lebanon has a thriving business community, high-quality industrial developments, and five industrial parks serving more than 50 industries, which create more than 3,000 jobs.
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,300 real estate professionals in 53 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
For further information/comment/photos:
* Erik Foster, Principal, Avison Young: 312.273.9486
www.avisonyoung.com
Avison Young was a winner of Canada’s Best Managed Companies program in 2011 and requalified in 2012 to maintain its status as a Best Managed company.
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