Industrial i Ohio

Industrial Property Brokers closes 402,000-square-foot industrial sale in Ohio

Industrial Property Brokers closes 402,000-square-foot industrial sale,ph01

Industrial Property Brokers principal Tim Echemann represented Nick Reinhart in the acquisition of the 402,604-square-foot industrial facility on 55 acres that were formerly owned by American Tire Distributors in Findlay, Ohio.

American Tire was the seller. The $13.7 million acquisition included 66 acres of undeveloped land that is immediately adjacent to the light industrial facility.

American Plastics signed a long-term lease on the building and has already started to occupy the property. The 502-foot-by-802-foot building was built in 1998 of pre-cast concrete tilt-up walls and a rubber membrane roof. It has 28 feet of clear height and 44 dock doors. Most of the building is industrial space, plus 4,920 square feet of offices in two stories. The property is just a few miles from I-75 with access throughout the Midwest.

In April of 2018, St. Louis-based American Plastics acquired two Findlay-based businesses, Centrex Plastics and Creative Plastic Concepts, for an undisclosed sum from Nick Reinhart, owner and president of both Ohio firms. Reinhart took over the two family enterprises in 2017.

After the sale to American Plastics, Reinhart retained an equity stake in the combined company and was appointed chief innovation officer at American Plastics. He also led the deal to buy the former American Tire Distributors building and additional acreage.