Marcus & Millichap Brokers Sale of 165,230-SF Industrial Facility in Sidney, Ohio for $3.85M
Marcus & Millichap has successfully brokered the sale of a 165,230-square-foot industrial facility located in Sidney, Ohio, for a total price of $3.85 million.
“This was a complex sale involving a bankruptcy, a business winding down its operations, and active equipment auctions taking place during the selling process,” said Nathan Pealer, First Vice President Investments at Marcus & Millichap. “There is strong buyer demand for well-located and high-function industrial facilities, even when there is significant vacancy.”
Pealer, an investment specialist based in the firm’s Columbus office, held the exclusive listing and represented the seller, Reliable Castings Corporation. He also secured the buyer, a joint venture between Moxie Equities and Lido Realty.
The facility, located at 1521 Michigan Street, sits on over 33 acres at the intersection of Interstate 75 and Michigan Street. It includes space for heavy manufacturing, a machine shop, warehouse and distribution operations, as well as office spaces.
The new ownership plans to invest in improvements and lease the property. Marketing and leasing efforts for the space are currently underway.
