IRG, PREP Funds Team Set to Redevelop Industrial Site in Dayton, Ohio
Project to Transform Vintage Industrial Facility Into Modern Industrial and Corporate Hub
DAYTON, Ohio, June 29, 2026 /PRNewswire/ -- Industrial Realty Group, LLC ("IRG"), one of the country's largest owners of commercial and industrial properties, and PREP Funds, a dedicated real estate fund management and advisory firm, are proud to announce the recent acquisition of 5870 Poe Ave in Dayton, Ohio.
The property will be redeveloped into Dayton Commerce Center, a high-utility industrial property designed for state-of-the-art manufacturing, modern logistics, and corporate operations. The project will add to ownership's collective 7.2 million square feet owned in Southwest Ohio.
"This acquisition is a textbook example of what our joint venture with IRG is designed to accomplish: identify underutilized assets and move swiftly to unlock their value," said Chris Salata, Partner at PREP Funds. "We are excited to expand our holdings in the Dayton industrial market, and we believe that through the Dayton Commerce Center acquisition, we will be able to meet tenants' needs with a revitalized solution far faster than ground-up construction could deliver."
The 11.5-acre project was acquired by IRG and PREP Funds to establish a premier industrial project in the greater Dayton industrial market. The development team is executing renovation plans across the 160,000-square-foot complex, and ownership is actively marketing the space for lease to secure tenants for the site's next chapter.
The property is comprised of a 155,000-square-foot main building with 40,000 square feet of modernized office space and features 6 docks, 4 drive-ins, and heavy-crane infrastructure rated up to 15 tons. It also includes a standalone 5,000-square-foot building featuring a 15-ton crane, a drive-in door, and +/- 1,000 square feet of dedicated office space. Both structures offer 18-foot clear ceiling heights, robust 3-phase/480V power systems, and flexible OSI-2 zoning that supports advanced manufacturing, warehousing, freight handling, and research laboratories.
"The property boasts heavy-duty crane infrastructure and robust power capacity that are incredibly expensive to replicate today," said Peter Goffstein, Executive Vice President at IRG. "As we further expand our holdings in and around Dayton, we aim to cultivate economic opportunity in the Dayton area community, enhance the site, and give incoming tenants a distinct operational edge in the Midwest."
Dayton Commerce Center provides immense geographic and operational benefits to regional supply chains. The site sits in an unmatched logistical corridor right on Interstate 75, 2 miles from Interstate 70, and 7 miles from Dayton International Airport, maximizing efficiency and connectivity.
Construction upgrades are slated to begin immediately as IRG and PREP Funds prepare the property for new occupants. The ownership team will offer customized buildout packages, loading, and tailored office layouts.
For leasing inquiries, please contact:
Kohl Kirkland | Vice President of Acquisitions | PREP Funds
(937) 489-0135
About IRG
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 31 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America's most difficult real estate challenges. Learn more at www.industrialrealtygroup.com.
About PREP Funds
PREP Funds is a commercial real estate fund management and advisory firm. Founded in 2020, PREP Funds focuses on acquisition and development strategies across healthcare, industrial, and retail. PREP Funds is a manager and sponsor of real estate investment funds across sectors with durable fundamental tailwinds. This includes a $100MM value-add opportunities fund that invests in industrial and retail redevelopment projects that meet desired criteria allowing for a transformation of existing properties to enhance value and functionality. Learn more at www.prepfunds.net.
SOURCE Industrial Realty Group, LLC
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