Gem Real Estate Group is pleased to announce the sale of330 Leo Street in Downtown Dayton on March 3, 2011, to NIWS HOLDINGS (OHIO) LLC. This 7,400SF office and warehouse building offered the perfect solution for a metals distribution business that is moving three other warehousing operations to theDayton market.
Gem VP Steve Ireland, who negotiated the sale, said NIWS Holdings initially came toDaytonsearching for space to lease, but ultimately found purchasing this property as an economical alternative.
“The cost of ownership compared with some of the quoted lease rates, coupled with SBA lending rates, made this acquisition a slam dunk for the buyer,” Ireland said, “They received a good value that allows them to achieve access to our market and enjoy the privileges of ownership.”
The sellers also benefitted from partnering with Gem. Their business had outgrown theLeo Streetproperty andIrelandwas able to assist them in securing a property to lease upon the close of this sale, which is more in line with their short term business goals.
The Gem Real Estate Property Services Group was involved with this transaction as some building refurbishments have been planned and their experience in general contracting and construction are being used to bring the building up to speed with the new owners’ program. All in all,330 Leo Streetis another turn key job done well by the Gem team: property search, acquisition and build-out.
Originally published in the May 2011 Issue of Gem’s Monthly Newsletter.