A national company specializing in tax-advantaged real estate investments bought an industrial property in Tipp City earlier this month for $7.5 million for similar reasons.
“The property is stabilized,” said Darpan Patel, first vice president at real estate firm Cincinnati’s Marcus & Millichap, who represented the seller in the transaction with his partner, Sal Ramundo.
“We believe they will continue to run it as is,” Patel said of the new owner. “It’s an investment for them.”
The Stanley property is 87 percent occupied, according to a recent real estate listing, with tenants including First Call Quality and Blue Jay Communications.
Another recent regional opportunity zone investment: Patel was also involved in the $1,499,818 sale of a Dollar General store at 2783 State Route 22, in Wilmington recently, he said.
Patel represented the seller in that transaction, and the buyer was represented by Scott Harris at Scioto Commercial Realty Group in Columbus.