DaytonDailyNews.com

CONCORD TWP., Miami County — A group of investors this week purchased 116 acres of the Statler Farm near the Interstate 75 interchange between Troy and Piqua for an office-commercial park.

Steve Bruns, builder and developer from Tipp City, said Tuesday, March 24, the land that lies north of the Upper Valley Medical Center along I-75 was bought for nearly $2 million by a new partnership, Bruns Upper Valley Development LLC.

"I always thought that was one of the nicest development opportunities for bringing new business in our county," Bruns said of the land.

The exact use of the property remains to be determined.

"I see it more of a medical office, commercial park, possibly office buildings. I think it is a great location with great access to the interstate," Bruns said. He said he has a "couple of interested parties" for the site.

The Statler Farm covers more than 500 acres. A trust recently was dissolved through land purchases and other agreements reached in Miami County Common Pleas Court.

Bruns said he first met with the family owners four years ago but the agreement was not reached until after the court action, filed in 2007, concluded. The partnership paid $17,500 an acre. His Bruns Realty is working with the owners on marketing the other Statler Farm land.

In the meantime, he'll be working with Miami County and Concord Twp. on infrastructure and other land preparation issues. Miami County water and sewer serve the hospital to the south.

Concord Twp. Trustee Bob Shook said he was pleased with news of the project. He hopes the project will help "create good job opportunities for the county and Concord Township."

Jim McGarry, Miami County development director, could not be reached for comment. He told the county commission last year the site could be readied for development with extension of the utility lines and construction of a 500,000 gallon elevated water tank.

Contact this reporter at (937) 225-2292 or nbowman@DaytonDailyNews.com.