NAI Hiffman‘s Industrial Capital Markets Team brokered the $12.9 million sale of 1411 Campbell St., a single-tenant net lease industrial building in Toledo, Ohio, that is currently a production and distribution facility for Brenntag Great Lakes, LLC.
NAI Hiffman’s Patrick Sullivan, executive vice president, and Ryan Chambers, vice president, along with Terry Coyne, vice chairman of Newmark Knight Frank, represented the seller, Phoenix Toledo Industrial Investors LLC, an affiliate of Milwaukee-based Phoenix Investors. The buyer was Four Springs Capital Trust, based in Lake Como, New Jersey.
Renovated in 2020, 1411 Campbell is a 22-foot clear, 227,028-square-foot building with 14 docks, one drive-in, interior rail spur and 10 rail doors, with access to the Norfolk Southern spur. There is parking for 20 cars and 40 tractor-trailers. An adjacent 13.59-acre parcel located at 1313 Campbell St. was also part of the sale and is currently utilized as a paved trailer lot and tank farm.
The property was fully stabilized at the time of sale with almost 15 years of remaining lease term. It is the single largest facility in North America for Brenntag, a chemical and ingredients distributor. Brenntag, which operates three shifts per day at the property, invested significant capital in new equipment for its operation, as well as constructing a tank farm on the adjoining parcel.
