our future

PROPERTY DESCRIPTION & HIGHLIGHTS

 


The TechSouth site is centrally located just 3.5 miles from the State Capital Building. The site's proximity to 1-71 (1.75 miles away) and S.R. 104 (1.5 miles away) facilitates quick access to major highways.
The Property has full access to all utilities necessary to occupy the space for heavy manufacturing, schools, office, or storage facility. 
Most of the space in this complex is contained in a 360,444 square foot flex space building, 81,906 square foot of contiguous office space, and 7 small 8500 square foot warehouse/industrial buildings.   These buildings were built in phases over the past ten to sixty years. They are built with steel columns and beams and brick and metal siding. They have been well maintained and are structurally sound.

 

The previous Owner had just completed an investment of over $5.0 million to convert the Property into a highly functional warehouse, manufacturing and flex space campus. TechSouth features new docks and drive-in ramps with roll-up doors and renovated exterior facades.

 

In 2007, the Property was the recipient of a $3.0 million Clean Ohio Revitalization Fund (“CORF”) grant to bring the former manufacturing site through Ohio’s Voluntary Action Program. The Owner has successfully taken the Property through the program received the release from liability (the CNS or covenant-not-to-sue letter) from the Ohio EPA. In 2008, the Property was the recipient of a $5.0 million Job Ready Sites (“JRS”) grant from the Ohio Department of Development.

 

The City of Columbus has committed to building a new access road onto the site from Frebis Avenue. The cost of the new road is estimated at $1.4 million. In total, state and city government will have invested approximately $9.4 million into the Property. This large investment by the government demonstrates its commitment to the successful revitalization of this site through grant dollars as well as making additional incentives available to secure tenants and end users.

 

By virtue of having taken the Property through Ohio's Voluntary Action Program, the Property will enjoy a ten (10) year reduction of real estate taxes.

 

We closed escrow on this building on December 10, 2010, for such a ridiculously low price, that you may think were lying. Since then we leased out the majority of the 370,000 square feet warehouse and 82000 square foot office space,and renewed  the leases of our current tenants.  We have a full time leasing  and maintenance staff, with all normal expenses being paid out of revenues.  2013 actual return exceeded 25%.

 

2433 E. Orangethorpe Ave. Fullerton CA
This 13000 square foot building is 100 percent full and has been through a major remodel.  The appearance and condition of the building are very good.  The building is divided in seven suites with long term tenants.   This project will be sold with a projected return on investment of 65%.