Industrial Realty Acquires Ohio Manufacturing Property

1030 W. Alex Bell Road. Image courtesy of Industrial Realty Group

Industrial Realty Group has grown its presence in the Dayton, Ohio, market with the acquisition of a 662,000-square-foot manufacturing property in West Carrollton. The seller was Appvion, according to public records. Cushman & Wakefield’s Michael Guagenti represented IRG in the transaction, while Marcus & Millichap’s Ryan Williams and Ben Tashakorian negotiated on behalf of the seller.

The industrial building features 21 docks, six drive-in doors, 196 parking spaces and varying column spacing. Located immediately off Interstate 75 at 1030 W. Alex Bell Road, in between Indianapolis, Cincinnati and Columbus, Ohio, the facility has freeway visibility and rail access.

Domtar, the property’s tenant since 2020, will continue to occupy the majority of the building under a long-term lease. The facility still has 150,000 square feet of available space, as well as 25 acres of developable land that can accommodate customizable, build-to-suit options.

Beyond its latest acquisition, IRG already had a significant presence in the Dayton market and throughout the state. Most notably, the firm is in the process of redeveloping the former GM facility in Moraine, Ohio, after purchasing it in 2011. IRG also acquired five Gannett Co. printing facilities, two of which being located in Columbus and Wooster, Ohio.

IRG’s portfolio now includes more than 150 properties in 31 states, totaling more than 100 million square feet of rentable space. The firm recently broke ground on a 50-acre development with industrial and office space in New Orleans.