LEBANON, OH—CenterPoint Properties has just sold a fully-leased industrial building in the greater Cincinnati/Dayton industrial market to Becknell Industrial, along with its partner, UBS. The sales price was not disclosed. The 131,150-square-foot facility, located at 2800 Henkle Dr. in Lebanon, is fully leased to NIBCO, a provider of valves, fittings and flow control products for commercial, industrial and institutional construction as well as residential and irrigation markets. This facility is one of NIBCO's 10 manufacturing and distribution plants globally.
Erik Foster and Mike Wilson of Avison Young's Chicago Industrial Capital Markets Group helped complete the sale. The team worked with Scott Pickett, a principal and the managing director of Avison Young's Columbus office on the transaction as part of the firm's plan to increase internal collaboration among its partners across North America.
“This property provides an excellent opportunity for the new owner to gain a further foothold in the Ohio market with a solid asset and strong credit tenant,” said Foster. He was not available for more comment by press time.
The building, situated on about 10 acres, was built in 1994. The manufacturing space features 24' ceiling height, 13 dock high doors, two drive-in doors and column spacing of 40 by 40-feet.
The City of Lebanon is located midway between the Cincinnati and Dayton metropolitan areas, and with easy access to I-71, the property has connections to many major US markets and suppliers. The city functions as an industrial hub for the region, and has five industrial parks serving more than 50 industries, and provides more than 3,000 jobs.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
