Launch Planned for $65M Miamisburg Business Park
- Jul 24, 2012
According to a recent report from Cassidy Turley, the office vacancy rate in the Dayton area dropped from 27.8% at the end of 2011 to 26.1% in the first half of 2012. While the improvement from quarter to quarter is relatively modest, the trend is good news for Mark Fornes Realty Inc. of Washington Township and Miamisburg-based Construction Managers of Ohio. The firms are teaming up to build a $65 million business park in Miamisburg.
This February, BW Partners Ltd., as the partnership is known, acquired 80 acres on Byers Rd. near the Austin Boulevard Interchange from the city of Miamisburg at a cost of $4.1 million. Over the next decade, BW plans to build at least 10 buildings totaling 900,000 square feet of commercial space. That could bring several thousand jobs to the south Dayton metropolitan area.
The area inear the Austin Boulevard/Interstate 75 interchange is a hub for new office construction. Austin Landing, a $150 million mixed-use development just east of the I-75 interchange, is nearby. BW Partners will tout the property’s easy highway access and its proximity to restaurants, shops, cinemas at the nearby Village at Austin Landing.
The developers plan to start construction by the end of the year. Phase one will be a 63,000-square-foot flex industrial building scheduled for completion in Feb. 2013.
Image courtesy of Google Maps.
Charts courtesy of Cassidy Turley.