KETTERING, Ohio, July 31, 2015 /PRNewswire/ -- The 196,000-square-foot facility that has served as home to the National Composites Center is being sold in a live and online auction culminating August 26, with SVN Gryphon Parker, LLC managing the sale.
"The center has played an important role in the area's economy over the years by providing manufacturing space, offices and even conference space to companies exploring new frontiers in the development of new composite materials," said Rich Kruse, president of SVN Gryphon Parker. "The buyer of the facility may choose to continue using it for the same purpose or may phase that out as leases expire and pursue another business model," he said.
The facility has attracted such clients as Airbus, Honeywell, and the University of Dayton Research Institute. Currently, it has seven tenants occupying 68,582 square feet.
"You don't see many buildings that have such a combination of size, integrated facilities and stable base of paying tenants. In this case, the current tenants are providing almost $32,000 per month in income. Fully rented at the current rate of $5.25 per square foot, the facility has the potential of providing well over $400,000 per year," said Kruse.
The center, on approximately 15 acres of land, is located at 2000 Composite Drive, Kettering.
The live auction will begin at 10:30 a.m. Wednesday, August 26, at the center. Online bidding at gryphonparker.com is available from noon on July 30 until the start of the live auction.
SVN Gryphon Parker personnel will be available to accommodate inspections from 11 a.m. to 1 p.m. Tuesday on August 11 and August 18.
Sperry Van Ness Gryphon Parker provides brokerage, management, leasing and auction services throughout Ohio, working with individuals, corporations and lending institutions. The internal Special Assets Group, working closely with Parker Kruse Asset Management, advises financial institutions, borrowers and the courts on troubled asset administration throughout the United States.
For more information:
Carl Carter, 205-823-3273
SOURCE Sperry Van Ness Gryphon Parker