Mason Industrial Property Sells for $4.7M
- Mar 16, 2015
The Greater Cincinnati industrial market has registered 14 consecutive quarters of positive net absorption, most recently on the strength 704,877 square feet absorbed in the fourth quarter of 2014, DTZ reported last month.
More good news: vacancy declined to 5.3 percent by the end of last year, while asking rents stood steady at $3.66 per square foot. DTZ predicted that investment sales will remain strong in 2015, especially for fully leased properties.
Among the latest industrial assets to draw the interest of investors is a manufacturing facility in Mason. Robinson & Sons L.L.C. acquired a 122,898-square-foot building located on a 17.6-acre site at 7697 Snider Road.
According to the PropertyShark website, the facility’s market value is $3.66 million. DTZ represented the seller, Cincinnati Fan, in the transaction. Cincinnati Fan and Ventilator will continue to operate at the property, DTZ noted in a statement.