NAI Hiffman brokered the $16.65 million sale of 8200 Broadwell Road, a 479,598-square-foot aerosol can manufacturing facility in Cincinnati. NAI Hiffman’s Capital Markets Group Executive Vice President Pat Sullivan and Vice President Ryan Chambers, and Newmark Knight Frank Executive Managing Director Si Pitstick, marketed the property on behalf of the owner, Leasco Management.
A private buyer from Southern California purchased the fully occupied facility.
BWAY Corporation, a subsidiary of Mauser Packaging Solutions, has more than nine years left on its absolute triple-net lease of the facility. This mission-critical asset has been occupied by BWAY or its predecessors since 1965 and is its second-largest aerosol can manufacturing facility in the U.S. The tenant continues to make significant capital and productivity-related investments in the property, adding to the already extensive amount of heavy machinery within the plant.
BWAY Corporation is a North American supplier of general line rigid containers, with more than 4,000 employees operating 25 plants throughout the U.S. and Canada. Mauser Packaging Solutions works with businesses around the world to service the full packaging lifecycle, from design, manufacture and delivery, to recollection, refurbishment and recycling.