Story by cnmAdmin2030
May 31, 2018
Piqua, Ohio (May 30, 2018) – Industrial Property Brokers Principal Tim Echemann, SIOR, CCIM, announced today that his firm has won the listing assignment to market a new 50,000-square-foot warehouse and manufacturing facility in Tiffin, Ohio that is expected to be delivered and available for tenant improvements by July.
The property, which is being developed by a group of investors and constructed by general contractor by Clouse Construction Corporation, is offered for sale for $1.65 million or lease at $3.95 per-square-foot, triple net (meaning the tenant or lessee pays for real estate taxes, building insurance and maintenance).
Located at the corner of Shawhan Avenue and Tyber Road in the Eagle Rock Business Park, the building is 200 feet by 250 feet with 32 feet of clear height in the interior, and only 4 interior columns, or 50 feet of spacing per bay. There is one drive-in door and four docks. Approximately 48,500 square feet is designated warehouse space while 1,500 square feet is office space. Situated on 11.3 acres, there is ample room to expand up to 200,000 square feet and still maintain a large corporate yard.
The Seneca County industrial market is one of the tightest in Western Ohio, with only a 0.05% vacancy rate among the more than 10 million square feet in 188 warehouse/flex buildings tracked by property research company CoStar. The last time a new industrial building was added to the county’s supply was in the third quarter of 2016, and only three warehouse, flex or manufacturing buildings have come online in Seneca County since mid-2014. The county is part of the greater Toledo industrial market and is also near Findlay, OH.
David Zak, President & CEO of Seneca Industrial and Economic Development Corp. said this is the first speculative building in Seneca County to be built since 2007 and that having a standing industrial shell will help his organization attract new businesses to the county.
“Most companies seeking expansion look for existing building inventory and when it isn’t available, they go elsewhere. Having a new building gives us something to offer companies that want to grow, so obviously, we couldn’t be happier with this news,” Zak said.
Started in 1983, the Seneca Industrial and Economic Development Corp. is a private, non-profit corporation dedicated to driving positive economic, downtown and community development in Tiffin and Seneca County.
Tim Echemann stated that the premier industrial property is coming on the market at the best economic times we have seen in 10 years.
“It’s a great opportunity for a company that needs to expand quickly,” he said.
About Industrial Property Brokers
Industrial Property Brokers (IPB) is a premier full service real estate company offering sales, leasing, investment analysis, tenant representation, corporate services and property management throughout Western Ohio and Eastern Indiana. The firm specializes in secondary (Dayton, Columbus, Toledo, others) and tertiary markets in both states and currently has over 50 properties listed for sale or lease. The firm is affiliated with The Society of Industrial and Office REALTORS® (SIOR) and Certified Commercial Investment Member (CCIM). To learn more see www.ipbindustrial.com or call 937.492.4423.
Media Contact Gary Marsh at 415.999.3793 or gary@marshmarketing.com
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