Mark Langdon, commercial sales associate with Henkle Schueler & Associates, represented the seller in this transaction. The buyer was not identified in the announcement.
“This was a challenging product to sell in today’s environment; however, we were able to secure a user who will require the entire building to expand their business,” Langdon said in a release. “Although I’m unable to share details at this time, this will be an exciting addition to Miami Township and Montgomery County.”
The property’s address appears in local records as 8540 Gander Creek Drive. The most recent owner is listed as Papyrus Properties, LLC, which has the same Lebanon address as the Schueler Group.
No sale for the site yet appears in Montgomery County Auditor’s Office records. A spokesman for Schuler said the new owner’s identity will be shared once the transaction is made public.
“The buyer still wants to fly under the radar for the time being,” Kyle Caja, a marketing director for Schueler, told the Dayton Daily News.
The site is some 10 acres in size and is situated south of the Dayton Mall, minutes from the interchange of interstates 75 and 675.
The four-story Class A office building was built in 2007 and features an on-site walking trail, 400 parking spaces and more.
For a time, NewPage Corp. was headquartered in the building with about 350 local employees. Cerberus Capital Management formed NewPage, at one time billed as “the world’s largest producer of coated paper,” after acquiring MeadWestvaco’s coated fine papers division. And MeadWestvaco was formed in 2002 when what was historic Dayton company Mead Corp. merged with Westvaco.
At one time, NewPage owned paper mills in Kentucky, Maine, Maryland and several other states. The company was acquired by Verso Corp. in 2015 in a deal said to be valued at $1.4 billion.
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