The conveyance forms and public records outlining the $13 million sale of Kettering Tower are being made public.
All told, real estate acquisition entities associated with Dayton tech firm Stratacache paid $13 million for the 30-floor tower and associated parcels, including an attached parking garage on East Second Street, a parking lot, commercial vacant land on Second and other parcels.
Montgomery County records show that Tower Partners LLC, Kettering Tower’s previous owner, conveyed to Dayton company Arkham Tower LLC 18 pieces of property, including the 404-tall tower at Second and Main streets.
Chris Riegel, Stratacache founder and chief executive, told the Dayton Daily News last week that his real estate acquisition arm bought downtown Dayton’s tallest building for $13 million.
The building will become Stratacache’s new headquarters over the next two years or so, Riegel said. Today, the company is based at 2 Emmett St.
Stratacache makes digital signs and monitors for restaurant and retail, as well other virtual and augmented reality software for retail.
The 486,000-square-foot building’s previous owner, Albert Macanian, president of Plainview, N.Y.-based Dunkirk Realty, bought the property in May 2012 for $6.4 million through Tower Partners LLC.
Kettering Tower’s tenants include the Dayton Club (the former Dayton Racquet Club), law firms Taft Stettinius & Hollister and Sebaly Shillito + Dyer, the Dayton Development Coalition and others.
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