DAYTON, OH—One of the largest industrial real estate deals in the metro area’s recent history pushed positive absorption up to 1.37-million-square-feet in the second quarter, up from just 75,000-square feet in the first quarter, according to new research by Cassidy Turley. The solid quarter has raised hopes that the industrial economy here has finally turned a corner after a long, relatively slow recovery.

Fuyao North America recently plunked down $15 million for a 1.2-million-square-foot portion of the 4.2-million-square-foot former GM Moraine Assembly Plant. The 2008-9 crash of the auto industry left it largely vacant, but the Chinese auto glass manufacturer has already begun refurbishing the property and hopes to start production by 2015, according to Jarrett Hicks, senior research analyst in Cassidy Turley’s Cincinnati and Dayton offices.

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