MetLife building sold for more than $31M

The Metropolitan Life Insurance Co. building off Ohio 741 in Miami Twp. was sold last week for more than $31 million, according to Montgomery County property records.

The building at 9797 Springboro Pike was sold by Metropolitan Life Insurance to MLOH001 LLC Thursday for $31,124,883, according to records. The sale involved multiple parcels, both land and buildings. It’s listed as having a gross floor area of more than 214,000 square feet.

In an email, MetLife spokesman John Calagna said the building sale is part of MetLife’s “capital strategy sale leaseback program.”

The program is designed to sell and leaseback 100 percent of the space in various MetLife buildings in the United States while maintaining continuous business operations, Calagna said.

He said employees in the building have been informed that the company is leasing back 100 percent of the facility.

“There is no impact to employees in the building,” Calagna said. “The only change is that we no longer will own it, but will be leasing instead.”

About 650 employees work at the building, he said.

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