June Closed Transactions
June was an active month with our brokerage closing 21 transactions equating to more than 347,000 square feet.
The highest-value transaction of the month was the sale of the historic Larrimer Building at 161-167 N. High St. for $4.3 million. Peter Merkle represented Brad DeHays in the sale of this 27,267-square-foot building and the adjacent 92-space surface parking lot. The historic building has been the long-time home to Elevator Brewery & Draught Haus which will remain in the building. Retail accounted for 18% of the month’s transactions.
Industrial transactions made up about 32% of the month’s transactions. The Industrial Property Team of Matt Osowski, SIOR, Curt Berlin, SIOR and Blake DeCrane represented the buyer, Brennan Equipment Services, in the purchase of 202 Park Ave. in Tipp City, Ohio. In this sale-leaseback, the seller will occupy roughly 30,000 square feet of the building and Brennan will occupy about 10,000 square feet of the building in 2025.
Doug Shull and Joe Menninger successfully closed on the sale of another building within Heartland Commerce Park this month. Plant 4, a 101,236-square-foot industrial building, sold for $2.1 million and is the fourth building in the park to sell. Shull and Menninger represented the Knox County Land Bank in the sale to Ohio Truck Equipment which plans to manufacture and finish truck beds in the facility. The warehouse shipping/receiving building is still available. The engineering center and plants 1, 2 and 5 are pending.
John Mally closed the highest-value office transaction of the month. Mally represented the tenant, Universal Shield Insurance Group, in subleasing 15,745 square feet at 6767 Longshore Dr. in Dublin. The deal represents Mally’s third transaction with Universal as it has experienced continued growth. The space was previously occupied by Fuse, an innovation engine of Cardinal Health, and created an ideal move-in-ready opportunity for Universal. Universal now plans to list its current 4,080-square-foot office space at 6185 Emerald Parkway with Mally.
The Office Brokerage Group closed more than one-third of the month’s transactions and had the second highest-value office transaction of the month. The team of Andy Dutcher, SIOR, Matt Gregory SIOR, CCIM and Philip Bird, SIOR represented the owner in renewing the lease with engineering firm S&ME at 6190-6200 Enterprise Ct. in Dublin. Overall, office transactions accounted for 45% of the month’s activity.
