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Dunkirk Acquires Kettering Tower from Receivership

DAYTON, OH-The property, the tallest office tower in the city, had been in foreclosure by Bank of America, and was valued for auction at about $16 million.

By Robert Carr | Updated on May 29, 2012

DAYTON, OH-Bank of America has sold the city’s best-known office building, Kettering Tower, to a joint venture led by Plainview, NY-based Dunkirk Realty for less than $10.8 million. The 486,121-square-foot building, acquired by the bank in a foreclosure, is only 50% leased.

Eli Macanian, son of Dunkirk owner Albert Macanian and a VP at the firm, tells GlobeSt.com that he saw opportunity in the purchase of the 30-story tower, the tallest in the city. “It wasn’t listed at the time, but I saw it in an aerial photo and had heard about it being available, and I thought it was a great building,” Eli says. The building will be owned by Tower Partners LLC.

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