New York investment group buys Dayton-area warehouse for $525K

Story by IPB Industrial
January 10, 2023

An industrial warehouse site situated comfortably between Dayton and Columbus is the latest location a New York investment group has snatched up. The purchase marks the third industrial buy it has done in the Dayton area, with more planned on the horizon.

The site, which sits from 2725 to 2727 Columbus Ave. in Springfield, is a 45,000-square-foot facility originally build in 1950 and was purchased by W Financial for $525,000. The facility includes office space, warehouse storage space, four drive-in doors and three docks. Al Weinberger, who purchased the space on behalf of W Financial, was interested in the property because of its ideal location between the Dayton and Columbus markets.

“We like the location between Dayton and Columbus; the proximity to both of those locations is a valuable thing for any potential occupant,” Weinberger said. “You can get wherever you need to be—Dayton, Columbus, wherever—within an hour.”

The proximity to the new Honda plant that will be built in Washington Court and the Intel plant coming to Columbus was another factor in W Financial’s interest in the property.

To prep the facility for tenants, W Financial is currently in the process of hiring a contractor to remodel the space. Updates to features include changing lighting fixtures to LED lights, repainting the facility, remodeling the offices to bring them up-to-date and making sure there are no additional repairs or renovations needed.

The Springfield warehouse is the third facility that W Financial has purchased in the Dayton area; in September, the group purchased a 45,000-square-foot property in Brookeville, and more recently, acquired industrial space in Middletown. The group shows no signs of slowing down, with interest in expanding their reach across Ohio.

The sale of the property was aided by Tim Echemann of Piqua-based Industrial Property Brokers, who brokered the transaction.