CBRE has facilitated the $12 million sale of a 200,356-square-foot fully occupied distribution facility in Dayton, Ohio, to AIC Industrial.
Will Roberts, Steve Timmel, CCIM, Phil Pelok and Brandon Ellis of CBRE represented the seller, Property Advisors Group, in the sale.
Located on 20.24 acres at 1 Lau Parkway in Dayton, the property is leased to Michigan-based HVAC manufacturing company Hart & Cooley, LLC on an absolute triple-net lease. The facility, which has been occupied by Hart & Cooley (formerly Tomkins Industries) since it was completed in 1997, operates as one of the company’s four domestic distribution centers.
The property features 12 dock doors, four drive-ins, 24-26’ clear height and trailer parking. It is adjacent to Interstate 70, the major east-west thoroughfare that connects Dayton to Columbus and Indianapolis, and a 10-minute drive from Dayton International Airport and the Interstate 75/Interstate 70 interchange. The Dayton industrial market has continued to make waves in 2023 with a 4% vacancy rate and upwards of 1 million square feet of net absorption in the first quarter of the year, according to CBRE Research.
In addition to the Lau Parkway sale, Timmel and Roberts have completed 3.6 million square feet of industrial investment deals totaling $204.4 million since 2021 on the I-75 corridor around Dayton.
