Story by IPB Industrial
January 26, 2023
The owners of a car dealership in the Miami Valley have set their sights on revitalizing one of the entry points into a growing city in the region. The revitalization efforts come as part of a greater goal to create a better image for their hometown.
Mike and Jim Sherry, owners of Paul Sherry Family of Dealerships in Piqua, have begun a reinvestment project into four properties sitting on a four-acre plot along County Road 25A in Piqua. The two brothers purchased the properties for a total of $275,000 from Piqua-based Industrial Property Brokers, and are in the process of overhauling the structures. The main investment has been into labor and dumping costs to clear out brush and debris that have accumulated over the years. Additionally, they plan to upgrade interior and exterior fixtures, which has included putting lights up outside of the properties.
The end goal for the structures is to be able to market the properties toward trade businesses such as electricians and plumbers. The location is an attractive one due to the heavy daily traffic coming on and off Interstate 75, according to Mike.
In addition to cleaning up the properties along 25A, Mike and Jim hope to build two to three 2,000-square-foot structures along 25A sometime in the future. The total investment of these structures is approximately $800,000 and Mike hopes to work with the city to get the approvals needed in order to move forward with the project.
“I like to invest in Piqua because that’s where I live,” Mike said. “When an opportunity opens up in Piqua that seems to be in my line of field, I like to jump on it.”
This reinvestment comes after Mike and Jim built two 20,000-square-foot spec buildings in a $2 million investment on the industrial park property in 2021. The properties were leased to Clopay and a moving and storage company that needed extra space. The park has since been marked for build to suit opportunities.
“Jim and Mike Sherry have run with the baton from Paul Sherry in the operation of his automotive dealership and developing the Sherry Industrial Park with two 20,000 square-foot spec warehouse facilities,” said Tim Echemann with Industrial Property Brokers.
The Paul Sherry Family of Dealerships — which dates back to 1969 — entails several businesses including Paul Sherry Chrysler Dodge Jeep Ram, Paul Sherry Conversion Vans and more.
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