Kettering research park land buy would double acreage for Cleveland business

Credit: FILE

Credit: FILE

KETTERING – A developer is looking to nearly double its property at Miami Valley Research Park, expanding its investment by 28.5 acres.

Industrial Commercial Properties LLC wants to buy city-owned land at the 1,250-acre business park, adding to four properties it bought earlier this year near the Beavercreek border, officials said Monday.

Credit: FILE

Credit: FILE

Purchasing land along County Line Road north of Research Boulevard and south of Spaulding Road would give the Cleveland-area business a cluster of properties, said ICP Owner Chris Semarjian.

“We’re very interested,” he told the Dayton Daily News. “We own the office buildings on the other side of the pond. So we’re looking to expand our footprint and have a real nice place for people to work.”

Semarjian declined to discuss his plans for the land and the sales contract. Kettering records show the land would sell for $285,410.

ICP was also involved in the deal that brought Fuyao Glass America to Moraine.

Earlier this year, the business bought other research park land. It purchased 3123, 3139 and 3155 Research Blvd., with 1900 Founders Drive nearby, all from Land Holders LLC, according to Montgomery County property records.

Each building was sold with accompanying acreage, for a total of nearly 28 acres.

Kettering City Council is set Tuesday night to consider a resolution to approve a contract for the sale of its land.

It would be the second deal this summer involving the city selling MVRP land. Last month, city council approved a contract to sell about 9 acres there to Life Connection of Ohio, an organ donation center which plans to move its regional office from Dayton to Kettering.

If approved, the IPC deal also would be the largest tract of MVRP land sold by the city since it bought more than 300 acres there for $1.5 million in 2018, Kettering City Manager Mark Schwieterman.

“They have an interest. They own some of the adjacent land and they are therefore interested in this land,” he said. “And the city is allowing them enough due diligence… review their plans and decide whether to move forward with the transaction.”

Schwieterman said the city has working to sell “property for some time.” The business would have a year to close on the land should the city approve the deal, records show.

Semarjian said, “We just think that that area is wonderful area. There’s already some really good companies in the park.

“And we’re hoping to bring the energy and the investment to bring many more companies and create much more development in Kettering,” he added.

ICP works in commercial and industrial leasing, property management, acquisition, design-build and private-public partnerships, according to the company’s website.

With California-based Industrial Realty Group, ICP is the company that sold a former General Motors assembly plant in Moraine to a Chinese industrialist in 2014, leading to the creation of Fuyao Glass America, the world’s largest factory devoted to the creation of automotive glass.



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