NAI Ohio Equities helpd broker the sale of a 265,000-square-foot functionally obsolete industrial building on 10 acres in the submarket of Clintonville, Ohio, to Vision Development Inc.
The buyer plans to develop a new mixed-use project on the site, which is located in a suburb of Columbus. The seller was a subsidiary of Dixie International, a wholesale aftermarket powersports accessory distributor.
Vision Development Inc. is planning to build a 300-unit apartment project along with commercial space. The project will include studio, one- and two-bedroom units, as well as a pool, lounge and fitness center. Also included on the site are a parking garage, restaurant space, retail structure and two office buildings.
The $4.2 million sale was brokered by NAI Ohio Equities’ Peter Merkle, who represented the buyer in the transaction.