Reich Brothers Strikes Ohio Sale-Leaseback Deal

The concrete tilt-up, cross-dock facility in Toledo came online in 2000. Image courtesy of Reich Brothers

Reich Brothers has purchased a 309,968-square-foot industrial facility in Toledo, Ohio, from Stellantis. The cross-dock property will be leased back for parts distribution.

iBorrow provided a $12.7 million loan to finance the sale-leaseback of the warehouse and distribution property. The transaction marks Reich Brothers’ first acquisition in the Toledo market.

Built in 2000 for Stellantis to service a Jeep Wrangler and Gladiator assembly facility, the property features 32-foot clear heights, 102 truck docks, 50-foot by 50-foot column spacing, ESFR systems, more than 200 trailer spots and 292 car spaces.

The concrete tilt-up facility located at 1435 Matzinger Road on 28.5 acres is off Interstate 75, which provides direct access to nearby metro Detroit, some 50 miles north, as well as other interstates in the area. The property is next to a DHL facility, as well as numerous other industrial buildings along Matzinger Road and Enterprise Boulevard.

In terms of large transactions, Reich Brothers acquired the former 1.2 million-square-foot DHL Intermodal Campus in Baytown, Texas, last year. The 67-acre property is in Cedar Port, the nation’s largest rail- and barge-served industrial park.