FOSTORIA — A $10 million real estate transaction involving a Fostoria warehouse was a surprise to city officials when it was announced Friday.
Industrial Property Brokers and Colliers International announced the completed sale of the 588,000-square-foot property.
The industrial property, at 130 W. Jones Road, was sold by Herb Krumsick of Wichita, Kansas, to an undisclosed buyer nearly three weeks ago. Tim Echemann, president of Industrial Property Brokers, and Norm Khoury, brokerage senior vice president with Colliers International, represented the seller in the transaction.
“There aren’t many buildings of that size available in today’s marketplace,” Echemann said Friday. “It’s quite an unusual product. The availability to pick up that much warehousing space, that’s the big plus for us as far as why that deal took place.”
Echemann said the building is likely going to be used for warehousing. As of now, current tenants Ohio Logistics and Keller Packaging will stay put.
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