(Q&A) Expansions continue in 2023 for this Dayton-area CRE firm

Story by IPB Industrial
December 31, 2022

One of Dayton’s top commercial real estate firms has been experiencing success in spades this past year. In addition to helping manufacturers expand and find ideal locations to produce and move their products, Piqua-based Industrial Property Brokers announced in November that it had expanded to a Toledo office to better serve the industrial market across Ohio.

Tim Echemann, principle broker for the firm, recently sat down with the Dayton Business Journal to reflect on 2022 and look toward what the new year will have in store for the firm.

How would you assess your company’s performance in 2022 and what were some of the highlights?

2022 was another record year for Industrial Property Brokers. The highlights would be the sale of the 325,000 square foot monarch manufacturing facility in Sidney and the sale of 215,000 square foot Cardinal Health plant in Findlay. Also, we hired Chris Markho to our new Toledo brokerage office and Nylah Crosson in our Piqua headquarters for administrative support.

What’s your outlook for 2023?

2023 is starting off with new listing opportunities for land and commercial properties. In addition, we are expanding our property management capabilities. We are managing over 200,000 square feet now and anticipate another 300,000 square feet of assignments this year.

Based on input from appraisers, there is a lack of activity in the purchase of industrial and commercial property. This is due to past high levels of acquisition activities and lack of product available to purchase. In addition, the high interest rates provide lack of incentive.

What are the biggest challenges you’re currently facing and how are you addressing them?

The biggest challenge is finding adequate product for our clients to acquire, particularly in the 5,000 to 30,000 square-foot range of industrial property

What are you most excited about for the new year?

We are experiencing the highest levels of new customers in our company’s history. This is very inspiring because we facilitate expansions and growth for many corporations with our IPB services.

What is something that more people should know about your company?

IPB is actively seeking property management opportunities in the Dayton and upper Miami Valley region. In addition, we have opened a Toledo office that service the Michigan, Indiana and northern Ohio region.