BROOKVILLE, OHIO, AND LEBEC, CALIF. — Chicago-based Venture One Real Estate has brokered the $70 million sale of a distribution center portfolio. The sale included two properties totaling approximately 1.15 million square feet of space.
The first property is located just outside of Dayton, Ohio, in Brookville. The distribution center totals 801,711 square feet and is situated on 58.5 acres less than a half mile from the interchange of Interstate 70 and Arlington Road. Payless ShoeSource is the building's sole tenant.
The second building is located within Tejon Indsutrial Complex, the industrial component of the Tejon Ranch master-planned community, which is north of Los Angeles in Lebec. The building contains 351,723 square feet and is situated on 24.4 acres. Its sole tenant is a subsidiary of Brown Shoe Co., which operates the building as a fulfillment center for Famous Footwear.
Roy Splansky and Mark Goode of Venture One represented the seller, entities controlled by St. Louis-based Clayco Realty Group. Clayco was also the original developer of both properties. The buyer was a New York City-based institutional party. The Colliers International team of John DeGrinis and Thomas Taylor provided additional assistance for the California portion of the deal.
— Coleman Wood