A new owner has purchased the Procter & Gamble distribution center in Union for more than $93 million, and P&G’s operation will go on unhindered.
ILPT Properties LLC purchased the 1.8 million-square-foot distribution center on Union Airpark Boulevard from ARCP ID Union OH, the limited liability company that has owned the property since 2014.
The transaction was recorded April 30, with a $93.3 million sale price.
“There is no impact on P&G’s business because of this sale,” Jeff LeRoy, a P&G spokesman, told the Dayton Daily News Monday. “Recall we are merely tenants at the site, and have been since construction. The owner sold several properties in their portfolio, this being one. Our lease remains the same, our work remains the same, the number of employees at the site is unchanged.”
Drawn by Dayton’s location near the intersection of Interstates 75 and 70 — found some 600 miles of 67 percent of the U.S. population and within 600 miles of 60 percent of the nation’s manufacturing employment — P&G opened the center five years ago.
In 2017, a P&G spokesman told the Dayton Daily News that DHL had about 520 employees at the site; Impact had about 100 workers, while P&G itself had about 140, for about 760 workers total.
As of March 31, 2019, Newton, Mass.-based ILPT owned 277 industrial and logistics properties with 33.2 million rentable square feet. Questions were sent to the company Monday.
“We believe the U.S. retail industry is experiencing a major shift away from stores and shopping centers to e-commerce sales platforms and that this change is causing increasing demand for industrial and logistics real estate,” the company says on its web site. “We intend to expand our business by focusing on properties that may benefit from the growth of e-commerce.”
The company also owns logistics buildings in Chillicothe, Lewis Center, Avon and elsewhere in Ohio.