City News

July 7, 2023

Real Estate Developer Acquires 93-Acre Industrial Facility in West Carrollton

Real Estate Developer Acquires 93-Acre Industrial Facility in West Carrollton

WEST CARROLLTON — Industrial Realty Group (IRG), one of the nation’s largest industrial real estate developers, announced today it recently acquired a 662,000-square-foot industrial manufacturing property in West Carrollton.

The property, one of the largest industrial sites in the south Dayton area, is located at 1030 Alex Bell Road, immediately off Interstate 75. The site’s existing tenant, Domtar, will remain in the majority of the building under a long-term lease, the firm said. The site, across I-75 from West Carrollton High School, was previously home to an Appleton Paper plant.

“IRG has long seen the dynamic nature of the Dayton industrial market,” IRG President Stuart Lichter said in a release. “We are excited to invest again into the community by securing job-creating tenants with economic growth opportunities for the Dayton area.”

Closing for the purchase of the 93-acre site was June 27, said Lauren Crumrine, vice president of marketing for IRG’s Columbus office. “Per our corporate policy, we do not disclose the purchase price,” Crumrine told this news outlet. The firm said the site is “well-positioned between the markets of Columbus, Cincinnati, and Indianapolis” and includes “freeway visibility, ample parking and rail access.”

In addition to 150,000 square feet of available space, the site also includes 25 acres of developable land that provides customizable, build-to-suit options, IRG said. “With strong demand in the Dayton’s industrial market, IRG anticipates high demand for the available space and development opportunity,” the firm said in the release.

IRG is specializes in the acquisition, development and management of commercial and industrial real estate throughout the United States. Through its affiliated partnerships and limited liability companies, it operates a portfolio containing more than 150 properties in 31 states with more than 100 million square feet of rentable space. Michael Guagenti of Cushman & Wakefield represented IRG. Ryan Williams and Ben Tashakorian of Marcus & Millichap represented the seller.