Developers Chris Semarjian and Stuart Lichter are closing 2013 by making another investment in southwest Ohio, this time buying a SuperValu Warehouse at 1003 Bellbrook Ave. in Xenia, Ohio.
SuperValu formerly operated the 522,000-square-foot facility as a food distribution and warehouse center, a building that held large-scale dry, cool and freezer goods.
What will the two developers turn the building into? That’s not yet determined. But Semarjian and Lichter already have experience in turning large-scale facilities into new uses for a wide variety of tenants.
“We have already begun the marketing efforts that show much promise for several tenants to naturally occupy this facility,” said Semarjian in a written statement.
This building would be a good fit for businesses that need temperature-controlled storage and distribution. The facility includes 300,000 square feet of dry storage, 100,000 square feet of refrigerated space and 80,000 square feet of freezer space.
“We are confident that there will be many businesses that require this rare and valuable space,” said Semarjian. “It is a natural transition for companies that would prefer a reuse rather than the cost and length of time that it would take to create this space from inception.”
Semarjian and Lichter have already completed several high-profile projects in Ohio’s Miami Valley region, projects totaling more than 7 million square feet. This includes the developers’ acquisition and redevelopment of the General Motors Moraine Assembly Plant, Ford Motor Batavia Car Plant, Emery Air Freight/UPS Center at the Dayton International Airport and the Delphi Automotive Campus.
Lichter — under the business name Industrial Real Estate Group — and Semarjian — Industrial Commerce Limited — partner on national and regional projects.
