Downtown Boston Stoker building sold for nearly $1.7 million

Credit: Chris Stewart

Credit: Chris Stewart

Multi-tenant building sells to Dublin, Ohio, investor.

A downtown Dayton building that is home to the Boston Stoker coffee shop and other tenants has sold for nearly $1.65 million to a Dublin, Ohio, company, new property records show.

Sometimes identifed as “Courthouse Crossing,” the property at 34 to 40 W. Second St. — which is or has been home to the Area Agency on Aging, the Arts Annex and CareSouce Logistics — sold to Tain Investments III LLC, which was incorporated by Akhil Patel, a Dublin attorney, according to Ohio Secretary of State business filings.

The seller was GECMC 2006-C1 North Ludlow, of Miami Fla.

In all, the sale involved three parcels of property covering 34 to 40 W. Second and pieces of property on West Second.

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The 169,427-square-foot building is also home to a CVS pharmacy (32 N. Ludlow St.), which fronts on Courthouse Square. The building offers about 30,000 square feet of ground-floor retail, and about 118,000 square feet of office space, with about 20,000 square feet of basement storage.

The Montgomery County auditor’s office records the sale as three transactions, all with a Jan. 12 sale date.

Downtown’s Courthouse Square has taken on new life in recent years as a core business district gathering and food truck space, with occasional concerts, rallies and other events.

But buildings there have weathered ups and downs. In 2012, CareSource — Ohio’s largest Medicaid managed care service provider and one of Dayton’s largest employers — announced plans to move 225 customer service employees into rented space at 40 W. Second. And in 2016, U.S. Bank foreclosed on the building at 10 N. Ludlow St., next to the newly sold property.

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