Industrial – newest building on market has great logistics

6901 Urbana Rd. – Industrial 
Springfield, OH
Available as of 7/16/2009

I had the chance to tour this building last week with real estate agent Doug Cox and one of the owners Jim Valentine.  I was impressed with the quality of the building and the investment that the owners had made into it.  It is a great space, and the owners are eager to find a tenant.

Logistics are a strong asset

Interstate highway and trucking—two great advantages of the site.  First, the site is well positioned, less than 1 mile from  4-laned, limited access US 68, which feeds directly into I-70.  The Interstate-like US 68 going south to I-70 was constructed to assist Navistar get its trucks to market with the best possible logistics.  Second, on the site a few yards away is a trucking company, Imperial Express, who can provide a competitive advantage for companies that are looking for the kind of services it provides.

Valco and Woeber Mustard occupied the building

The building, built in 1986, has housed Valco Truck & Trim and most recently Woeber Mustard, which used the facility as distribution space until their new facility a little ways down from this property.  Valco Industries, a full-service metal fabricator, operated on this site under the same address in an adjacent building until 2007, when a fire destroyed it.   Valco then relocated their facilities to 625 Burt Street, in Springfield.

Property Data

   
Property Type:  Industrial
Secondary Type: General Use / Warehouse
Building Size: 15,000 sf
Total Space Avail: 15,000 sf
Office Space: 1,000 +/- sf
Annual Rent: $3.75/sf Net
Purchase Price: not available for purchase
Land Area: 2.6 ac
Year Built:  1986
Ceiling Height:  18′ at eave
Doors: drive in door
Dimensions: 100′ x 150′
   
R/E Agent: Doug Cox
Agency: Levine Realty
Email: drcox@levinerealtyco.com
Phone: (937) 323-9765
   

>> Pictures of building – http://bit.ly/12UnJ1
>> Google Maps – http://bit.ly/NHkH3
>> GIS Listing – http://bit.ly/EmPm5

>> Woeber Mustard project – http://bit.ly/sewoeber
>> Valco fire story – http://bit.ly/184UJ2
>> Imperial Express trucking – http://bit.ly/seimperial
>> Interview with Imperial Express VP Dale Briggs – http://bit.ly/seimperial

>> Property Listing Terms of Use: http://tinyurl.com/sepropterms

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XX – Industrial – KTK Industrial Park building now off the market

5245 Prosperity Dr. – Industrial 
Springfield, OH
Not available as of 8/6/2009 – just leased

History – a Navistar supplier building  

The building has always housed suppliers to Navistar.  The first company that occupied it was Bentz Industries when it was built in 1988, and Bentz mounted roofs on the 9800 cabs for Navistar.  Bentz went out of business and in 1995 Valco Truck & Trim was created as a spinoff company of Valco Logistics to serve that business.  Valco Truck & Trim also installed interior trim components as well.  The 9800 cab was discontinued in 1998, and in 1999 the company started working on the Class 8 OTR ProSleeper cabs, that went to Chatham. Those cabs were being produced by Navistar’s Lagonda plant, which made cabs for all of its assembly plants in Springfield; Chatham, Ontario; Garland, Texas; and Escobeto, Mexico.  That facility closed in 2004, and Valco Truck & Trim went out of business.  The building stood vacant for about a year adn was then occupied by Kaffenbarger Welding in 2005.  Kaffenbarger, which still has facilities in the Cincinnati area as well as Garland, Texas, did right-hand drive conversions for Navistar in the building, making the trucks usable in places where right-side driving is required, like South Africa and Brazil.  Kaffenbarger occupied the building until a month or so ago.   

KTK Industrial Park

This 40-acre park was developed in 1984 and was completely built out by 1994, with 475,000 sf of industrial space having been built out between six facilities, the largest of which is the 305,000 sf building being used by Fontaine Modification.  Superior Trim, after their recent acquisition of Findlay Industries, operates two facilities at about 100,000 sf total, with Horner Industrial Services (Scherer Division) operating a 28,000 sf facility and Stewart Manufacturing operating a 16,000 sf facility. 

Property Data

   
Property Type:  Industrial
Secondary Type: General Use / Warehouse
Building Size: 30,000 sf
Total Space Avail: 30,000 sf
Annual Rent: $3.75/sf Net
Purchase Price: not available for purchase
Land Area: 3.49 ac
Year Built:  1988
Ceiling Height:  
Doors: 8 docks, 3 drive-in doors
Cranes: One 10 ton crane
   
R/E Agent: Doug Cox
Agency: Levine Realty
Email: drcox@levinerealtyco.com
Phone: (937) 323-9765
   

>> Pictures of building – http://bit.ly/10zcii
>> Google Maps – http://bit.ly/46Wnu1
>> GIS Listing – http://bit.ly/mYKTz

>> Superior Trim acquisition of Findlay Industries – http://bit.ly/nx5io
>> Superior Trim – www.suptrim.com
>> Fontaine Modification – www.fontainemod.com
>> Stewart Mfg. (MacRae’s profile) – http://bit.ly/yeX4g
>> Horner Industrial Services/Scherer Division – www.scherer-industrial.com

>> Property Listing Terms of Use: http://tinyurl.com/sepropterms

Industrial – Springfield OH’s largest new building back on market

1000 Titus Rd. – industrial + office
Available as of 7/1/2009

O’Cedar headquarters + manufacturing

Completed in the spring of 2002 at a declared cost of $8.4 million, the new headquaters and manufacturing facility for O’Cedar was tailored to their needs.  First, it was in prime location – right at the I-70 and SR 41 interchange at the end of the PrimeOhio Corporate Park, where it also has great visibility along the interstate.  Second, the warehouse area was built with logistics and quality in mind – 30 docks and 2 drive-in doors were more than adequate to meet the high product volume and the 215 wall panels that make up this area are 39′ tall and almost 8″ thick, weighing 30 tons each.  Third, the office was designed to impress as it should for a corporate headquaters.  Two stories of office, each at 13,385 sf provides more than adequate space to run the business.  Beautiful wood accents throughout the office and a spiral staircase make a big impact.  Fifth, the exterior was upgraded to please the eye as well.  It was painted and given an accent color band around the facility as well as built with curved spandrel panels at the entrance.    

Two tenants in space since O’Cedar left; Miller Valentine aggressively seeking new tenant

I spoke with Gerry Smith of Miller Valentine, the main contact for leasing the space from the company that built the building.  He’s also teamed up with Curt Berlin from NAI Ohio Equities to get the word out about the building in the Columbus market in addition to Dayton and Cincinnati.  After O’Cedar left the building, a company by the name of Android Industries moved into half of the building in 2005.  That continued until December 2007, when the company closed its Springfield operation.  Then, the building was leased until earlier this year, when the lease agreement ended.  Accordingly, the building is now back on the market.  

Multiple options and incentives

Miller Valentine is willing to lease the entire building, half of the warehouse space, all of the warehouse space, or even just the office itself as well as sell it.  Gerry Smith is confident that for the right fit they will work hard to make a deal happen.  The Enterprise Zone tax exemption is still active on the building, and as it is located in the City of Springfield/Springfield Township CEDA, local incentives are also possible.  The City of Springfield is a strong supporter of business in this regard.

Property Data

   
Property Type: Industrial/Warehouse (323,000 sf)
Secondary Type: Office (27,100 sf)
Building Size: 350,100 sf
Total Space Avail: 350,100 sf (can be divided in half)
Annual Rent: $3.50/sf NNN (warehouse); $9.65/sf NNN (office)
Purchase Price: $11.95 million
Land Area: 34 ac
Year Built: 2001
Ceiling Height: 28′ clear to bar joist
Doors: 30 docks, 2 drive-in doors
Construction: Tilt up concrete w/structural steel
Expandable to: 430,100 sf total (another 80,000 sf)
   
Main R/E Agent: Gerry Smith
Agency: Miller Valentine
Email: Gerry.Smith@mvg.com
Phone: (937) 297-9398
   
R/E Agent – Columbus: Curt Berlin
Agency: NAI Ohio Equities
Email: cberlin@ohioequities.com
Phone: (614) 629-5221
   

>> Detailed ProCure report on building – http://bit.ly/mD6nL
>> Online profile of building – http://bit.ly/dwdtK
>> Description of construction/concrete – http://bit.ly/1wDAqc
>> Enterprise Zone agreement for the building – http://bit.ly/pWvDU
>> SNS article on Android closing, Navistar possibilities (11/2008) – http://bit.ly/OyM0w

>> Online profile of Gerry Smith’s team – http://bit.ly/txxe7
>> Online profile of agent Curt Berlin – http://bit.ly/11Q50v
>> Profile of O’Cedar (company it was built for) – http://bit.ly/B45Vi
>> Previous location of O’Cedar (1210 Kenton) – http://bit.ly/Yo9wI

Office – Springfield skyscraper now has space available

The 13-story Credit Life building in downtown Springfield, OH

The 13-story Credit Life building in downtown Springfield, OH

1 S. Limestone – Class A Office Space
Available as of 6/27/2009

Government consolidation makes space available

On March 27 of this year, the Industrial Commission of Ohio and the Ohio Bureau of Workers’ Compensation consolidated the Dayton and Springfield offices into Dayton, vacating the entire fourth and fifth floors of the Credit Life Building.  Each floor is 12,400 square feet, and owner Jim Lagos is offering a rate of $12.00 per square foot gross, all costs included (taxes, insurance, utilities).  In addition, there is 6,000 square feet on the third floor ($13/sf), a small office on the 10th floor ($500 per month gross) and two suites on the first floor (each $1000 per month gross).

Architectural design

At 13 stories (depending on how you count), the Credit Life Building is the tallest building in Springfield.  It was designed by Skidmore, Owings and Merrill, a Chicago-based architectural and engineering firm, which designed the John Hancock Center (1969) and the Sears Tower (1973).  In the late 1970s, the firm designed a modernist, metal and glass skyscraper for the Credit Life Insurance Company.  The building was completed in 1975 for the company, and was sold in 1992, when Credit Life was purchased by the Union Fidelity Life Insurance.

New ownership

Jim Lagos bought the building in 1992 and has invested significant funds to upgrade it, most recently with a new 2008-technology York Latitude chiller and a Generac back-up generator, at a combined cost of over $500,000.  Each floor has 300 phone lines, two sets of male/female bathrooms with Corian countertops, and various upgrades from special light-restricting blinds to imported Italian cloth on the walls.

Property Type: Class A Office Space
Secondary Type: Data Center, Call Center
Building Size: 124,000 sf
Total Space Avail: 30,000+ sf
Annual Rent: $13.00/sf NNN
Annual Op. Expense: included
Land Area: 0.43 ac
Lot Dimensions:
Year Built: 1975
Parking: 365 garage spaces
Other Tenants: Ren. Services, Martin Browne, Spencer & Assoc.
Owner: Jim Lagos
Company: Lagos & Lagos
Email: jameshlagos@lagoscentral.com
Phone: (937) 323-5555
Additional Contact: Lisa Behr
Company: Lagos & Lagos
Email: lisabehr@lagoscentral.com
Phone: (937) 323-5555

>> Picture Collection – over 100 picshttp://bit.ly/2jixSp

>> DBJ article on BWC and Industrial Commission leaving – http://bit.ly/3aQF8w
>> Miller & Fazio property description – http://bit.ly/xkeMo
>> GIS property data – http://bit.ly/xffhr

>> Story on how Credit Life started group credit insurance – http://bit.ly/oO5Ji
>> Union Fidelity Life Insurance (current co) doing well – http://bit.ly/sCqGP
>> when Union Fidelity bought Credit Life (1993) – http://bit.ly/Ee0y

Industrial – newer Springfield building with crane available

4141 Laybourne Rd. – Industrial 
Springfield, OH
Available as of 6/19/2009

Micro Enterprises Closes, Building Available

In February, a Springfield OH machine tool company by the name of Micro Enteprises had to close its doors.  50 of its employees were laid off, and an auction was held in April for the assets.  Accordingly, over the next few months the building has been cleaned out of assets, and the last machines (shown in the pictures) are now removed.  Digger Daily and then Mark Dlott from Collier Turley Martin Tucker were chosen as the real estate agents. 

Great Access with Crane, Interest Shown

The Springfield market has had a lack of 30-50,000 sf industrial buildings, and hence there is some demand.  The building is, for all intents and purposes, right off the SR 41 interchange of I-70, the east-west route through Ohio, which extends from the east coast to the middle of the country.  It is a relatively new building, having 33,000 sf of space originally constructed for Micro in 1994 and then having a 12,000 sf addition in 1997.  (See the flyer and GIS listing for building layout).  The ten ton crane is a definite plus, as there are not many buildings available on the market with cranes already installed that are this nice.  It is also situated within the smaller Laybourne Industrial Park, one of four industrial and research parks at this interchange.  The building is a great buy for the right industrial customer.  Multiple prospects have started to view the building according to agent Mark Dlott.

   
Property Type:  Industrial
Secondary Type: General Use / Warehouse
Building Size: 50,820 sf
Total Space Avail: 50,820 sf
Annual Rent: $2.75/sf NNN
Purchase Price: $1,100,000
Land Area: 4.81 ac
Year Built:  1994, addition in 1997
Ceiling Height: 14′ – 22′
Doors: 2 docks, 4 drive-in doors
Cranes: One 10 ton crane
   
R/E Agent: Mark Dlott
Agency: Colliers Turley Martin Tucker
Email: MDlott@ctmt.com
Phone: (937) 424-2446
   

>> Real Estate Agent Listing: http://bit.ly/1945iG
>> Property Flyer: http://bit.ly/kLBCs
>> Large overhead aerial: http://bit.ly/XpgLz
>> GIS Listing: http://bit.ly/2Tyv97

>> Springfield News-Sun article on Micro Enterprise closing: http://bit.ly/oshE7
>> Auction site: http://bit.ly/G888H
>> Micro Enterprises site: www.microent.com

>> Property Listing Terms of Use: http://tinyurl.com/sepropterms

$7.7M office building in tech park a success, space available

250 Veronia Dr. – Class A Office
Available as of 6/12/2009

Tenants in 2008 and 2009

I talked to Todd DuPlain with Synergy today, the company that built this building.  The project has been successful.  Several tenants locate in July and August of last year (2008)–Qbase, who takes up the third floor; SAIC and SpectraPhysics, who occupy some of the space on the third floor.  In 2009, NETI (the NET Incubator)–a project with collaboration and support from Central State University and Qbase among others) is setting up shop in some of the third floor as well.  There is still space available on the first and second floor for new tenants.

Best power and fiber tech park in Ohio

In our conversation, DuPlain said, “There isn’t another tech park around Wright Patterson Air Force Base or in Ohio for that matter with the power and data fiber infrstructure we have.”  Todd feels this building is really one of the best technology parks in Ohio and in the country–particularly when it comes to infrastructure such as power and fiber.  It’s rumored that the bandwidth is so large that the entire Library of Congress could be moved through it in 10 seconds.  In addition to general technology companies, DuPlain said that companies coming to the region as a result of the 2005 BRAC gains to Wright Patterson Air Force Base, which will be adding over 1,200 new jobs and $332 million in over 1M sf in new construction, should find this park, located 22 miles from the base, a great place to locate. 

The setting and area

This $7.65 million building was built by the Synergy, part of the Mills-Morgan Development company in 2007 as part of their speculative office plan (three buildings planned) in the Nextedge Applied Research + Technology Park.  Synergy does build-to-suit finishes.  It is in an open campus setting, with access to over 22 higher education institutions and 131,000 students as well as over 14,000 technology workers in the region. 

   
Property Type:  Class A Office Space
Secondary Type: R&D
Building Size: 55,572 sf
Total Space Avail: 28,782 sf
Annual Rent: $14.25/sf
Annual Op. Expense: $5.00/sf
Land Area: 4.96 ac
Lot Dimensions:
Year Built:  2007
Parking: 376 lot spaces
Other Tenants: Qbase, SAIC, Spectra-Physics, NET Incubator
   
R/E Agent: Jason Rudzinski
Agency: Mark Fornes Realty
Email: jason@fornes.com
Phone: (937) 434-2000
   
Developer Contact: Ray Hagerman
Developer: The Nextedge Corporation
Email: rhagerman@nextedgepark.com
Phone: (937) 521-1920

>> Real Estate Agent Listing: http://bit.ly/1945iG
>> Synergy Building Systems profile of building: http://bit.ly/Wvuqv
>> Nextedge Park: www.nextedgepark.com
>> GIS Listing: http://bit.ly/m9oh8

>> 2008 article in SNS on NET Incubator: http://bit.ly/RFlAU
>> 2008 article on SAIC: http://bit.ly/8phL8
>> 2008 article in DDC mag on Nextedge: http://bit.ly/10axua
>> 2008 Rotary speech by Ray Hagerman: http://bit.ly/leQQ2
>> 2007 DDN article on Qbase locating in building: http://bit.ly/yizwZ
>> 2006 DBJ article on Mills-Morgan’s plans: http://bit.ly/Hn0Wp
>> Enterprise Zone agreement: http://bit.ly/UZZrZ

>> Property Listing Terms of Use: http://tinyurl.com/sepropterms

Retail site for lease at corner of SR 72 and Leffel Ln. – Springfield, OH

 
 2256 S. Limestone St. – Retail/Commercial Site
Available as of 6/1/2009
   
Property Type: Retail Build To Suit Site
Secondary Type: Commercial Build To Suit Site
Building Size:
Total Space Avail:
Annual Rent: $38,000 (not for purchase)
Land Area: 0.22 ac
Lot Dimensions: 150′ x 85”
Year Built:
Parking:
Other Tenants:
   
R/E Agent: Brian Smith
Agency: Florida Equities LLC
Email: bsmith@floridaequities.net
Phone: (800) 339-3234

>> Property Information Flyer: http://tinyurl.com/q98qk3
>> GIS Listings (2 parcels): http://tinyurl.com/qjvmec and http://tinyurl.com/r56frc
>> Google Maps: http://tinyurl.com/p2hk6m

>> Property Listing Terms of Use: http://tinyurl.com/sepropterms