Tata America Buys 195,055-SF Office for $13M

MIAMI TOWNSHIP, OH-Tata America International has purchased the 195,055 sf office building called Ridgewood Corporate Center, here at 1000 Summit Dr., for $13 million. The company, an information technology outsourcing firm that is a subsidiary of Mumbai, India-based Tata Consultancy Services, will use the building as a North American headquarters.

The company had considered leasing the property, says Rusty Meyers with Cincinnati Capital Partners. “They’re a global services firm, they just decided to buy the property,” he says. He represented the owner Milford Partners LLC, a subsidiary of Griffin Capital, in the sale, along with Jeff Bender, Kim Bertke, Jim O’Connell, Thomas Powers and Mike Sullivan from Colliers Turley Martin Tucker.

The property was built in 1992 by the James River Corp., a paper manufacturer now known as the Fort James Corp., as an industrial facility. Tata plans a $7 million redevelopment of the building, sources say.