The Schueler Group of Companies, a Lebanon real estate and development company, is buying 43 acres of ready-to-develop land in Middletown along Union Road, north of Ohio 122, with highway frontage.
A group of about 15 investors under the name North Pointe Farms LLC expects to close within the week on the purchase from Cincinnati developer Al. Neyer Inc., said Joe Kramer, executive vice president of Henkle Schueler & Associates/CORFAC International, the commercial real estate division of The Schueler Group. Kramer and other investors in the group are related to Henkle Schueler.
There are no immediate plans to start digging right away, but Kramer said the investors are looking to attract “job generators” to the property and not necessarily build office space or retail.
“There’s only so much land available along 75,” Kramer said, adding that “a high tech industrial user would be welcomed on that site.”
“Everything in real estate from 2008 through last year was put in a deep freeze. We’re definitely seeing signs of revival,” Kramer said.
Officials with Al. Neyer confirmed the sale is pending, but declined to elaborate. CHELSEY LEVINGSTON
EXPANSION
New furnace means added jobs at Ohio steel plant
The activation of an $85 million electric arc furnace at a northern Ohio steel plant is expected to add hundreds of jobs at the facility, mostly over the next year.
A company official says more than 100 workers have been added at the Republic Steel plant in Lorain, and eventually it expects to reach about 450.
Republic Steel’s marketing director tells The Chronicle-Telegram in Elyria that it expects to start the furnace before the end of the year.
The furnace will turn melted scrap into liquid steel that will be sold and eventually transformed into solid pipe used in natural gas and oil drilling. The new equipment replaces a blast furnace that was closed five years ago as demand for steel products fell during the recession. ASSOCIATED PRESS
RELOCATION
Agribusiness giant Archer Daniels Midland Company said Monday that after spending 44 years in the small Illinois city of Decatur, it is looking for a new location for its global headquarters with better access to its customers around the world.
ADM said it is already considering locations and having discussions with unidentified officials and advisers, and that it doesn’t plan to publicly discuss where it could be headed.
But the company said it doesn’t plan any layoffs and would keep a workforce of 4,400 in Decatur, which also will become ADM’s North American headquarters.
The new headquarters would have about 100 employees, ADM said in the new release. ASSOCIATED PRESS
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