Equity closed the sale of an industrial facility at 200 Enterprise Drive in Newcomerstown, Ohio, for $2,980,000.
The property was acquired by an undisclosed New York-based private investor, reflecting continued coastal demand for stabilized industrial assets in Midwest tertiary markets offering enhanced yield opportunities.
The 62,310-square-foot, single-tenant facility is fully leased to Paragon Integrated Services, a provider of on-site services supporting natural gas drilling operations. Paragon is backed by Palladium Equity Partners, a New York-based private equity firm with over $3 billion in assets under management.
The property serves as a mission-critical operational hub supporting activity in the Utica and Marcellus shale regions, which supply a significant share of natural gas to markets east of the Mississippi River. Its Northeast Ohio location enables efficient deployment and servicing of field operations, reducing response times and operating costs.
The transaction was exclusively marketed by the Equity Industrial Investment Team at Equity. Josh Baker, Senior Advisor, and George Stecz, Senior Vice President of Investment Sales, represented the seller and facilitated the transaction.
