Denver's DCT Industrial Trust Inc. has purchased the building that houses the headquarters of Procter & Gamble Co.’s Imflux Inc. subsidiary near Cincinnati for $10.8 million.
DCT Industrial, which acquires and manages bulk distribution and light industrial properties, purchased the 301,000-square-foot facility in Hamilton, Ohio, in an off-market transaction from an affiliate of Trident Capital Group. At the time of purchase, it was 60 percent occupied.
Mike Meyers, vice president with DCT Industrial, called the property an “exceptional asset.”
Cincinnati is one of the tightest industrial markets in the nation with a vacancy rate of 4.7 percent, according to CBRE.
Read more at the Denver Business Journal: http://bit.ly/2eclN85
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