Investors purchase SuperValu warehouse
William Duffield Staff writer & wire reports
XENIA — The SuperValu Warehouse, left empty since the duties of the enterprise were shifted out of state in 2012, has new owners and, the city of Xenia hopes, new life.
Developers Chris Semarjian and Stuart Lichter have purchased the warehouse, formerly operated by the grocery industry leader, located at 1003 Bellbrook Avenue, for $4.3 million. The 522,000 square foot facility includes large scale dry, cool and freezer storage.
Their SuperValu Warehouse acquisition was made by Xenia Bellbrook LLC.
Xenia officials are very pleased with the sale of the property, expected to bring jobs into Xenia.
“We are excited about the sale of the former SuperValu warehouse and we look forward to working with the new owners to bring opportunities to Xenia,” Xenia City Manager Jim Percival said Friday. “I believe that the warehouse is a great asset and its location should make it very attractive.”
“This is great news,” Xenia Councilman Dale Louderback said. “I am confident that this company will find a suitor for this building and bring some good paying jobs to Xenia.”
Alan Liming, the president and CEO of the Xenia Area Chamber of Commerce, said he, too, is optimistic.
“With the new owner in place, I feel optimistic that the property will be actively marketed and we will get a viable tenant to provide an economic boost to the community,” Liming said.
Semarjian and Lichter are both known for their ability to purchase large scale facilities and repurposing the buildings and sites for new tenants. Their interest in southwestern Ohio will continue to provide more jobs, economic growth and vast opportunities for both businesses and individuals.
“We are very pleased with the acquisition of this building and the offerings that come along with it,” said Semarjian. “We have already begun the marketing efforts that show much promise for several tenants to naturally occupy this facility.”
According to a release from the Semarjian’s Industrial Commerce Limited stated that adaptive reuse plans offer potential businesses who need temperature controlled storage and distribution. The building includes 300,000 square feet of dry storage, 100,000 square feet of refrigerated space and 80,000 square feet of freezer space.
“We are confident that there will be many businesses who require this rare and valuable space,” said Semarjian. “It is a natural transition for companies who would prefer a reuse rather than the cost and length of time that it would take to create this space from inception.”
As with other projects in southern Ohio, it is their goal to purchase underutilized corporate assets and repurpose them into vibrant new projects. In the end, it will not only breathe new life into the existing buildings, but add jobs, economic growth and opportunity for Xenia.
“We are excited about the chance to once again work in southwestern Ohio and continuing to execute our core business plan of repurposing corporate amenities,” said Lichter. “We will continue to work with community leaders in the city of Xenia as we find qualified tenants who in turn, will provide jobs and further economic promise.”
Semarjian and Lichter have several high profile projects in the Miami Valley, totaling well over 7 million square feet. The groups southwestern Ohio projects include the acquisition and redevelopment of the General Motors Moraine Assembly Plant, Ford Motor Batavia Car Plant, Emery Air Freight/UPS Center at the Dayton International Airport, Cooper Tire and Delphi Automotive Campus. All are recognizing rebirth based on their vision and commitment.
“We look forward to a continued strong interest in this great area,” said Semarjian. “Our business model of adaptive reuse and investment in existing properties will continue to provide further opportunities and growth in this area.”
Contact William Duffield at email@example.com or 372-4444 ext. 133.
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