Cincinnati PR

Press Release PDF: Deep in Love with Dayton, Delphi and OH – Industrial Commerce, IRG acquire Delphi Kettering

Deep in Love with Dayton, Delphi and Ohio:

Development partners Chris Semarjian of Industrial Commerce Ltd., Stu Lichter at IRG acquire massive, 1.15 million-square-foot Kettering, Ohio plant used by Ford Motor Co. supplier Tenneco, augmenting Buckeye State industrial arsenal 

Investing In Ohio: Kettering acquisition adds second Delphi plant in less than one year.

Tenneco Time: Global supplier to Ford Motor Co. now majority of facility.

Industrial space, land development: Opps await at newest jewel in Semarjian/Lichter crown.

[DAYTON, Ohio ~ July 10, 2012] Days after disclosing the first tenant at the rebranded Air Commerce business hub near the Dayton International Airport – SB Specialty Metals LLC of Dallas – the development team of Industrial Commerce Ltd. from Cleveland and Industrial Realty Group (IRG) of California closed on their most recent prized asset, the former Delphi Automotive plant in Kettering, Ohio, in a combo investment-development deal.

The Kettering Delphi plant measures 1.15 million square feet on 40 acres and is primarily leased by Tenneco Inc., which operates a bustling facility inside the plant straddling the Green and Montgomery County lines.

The new owners will continue to provide a world-class level of service to Tenneco, perhaps known best as the manufacturer of the popular Monroe shocks.

“We have additional space and land for future development, but for now, we’re just happy to be taking care of our friends at Tenneco, at another one of these fine Delphi plants that we now call our own,” said Chris Semarjian, owner of Industrial Commerce Ltd. of Cleveland.

Industrial Commerce Ltd. pursues development opportunities in Ohio and the Midwest with Stu Lichter, president of IRG LLC of Los Angeles.

“With Delphi Kettering coming online instantaneously, we now have both space, and land development opportunities, in the strategic southern Dayton submarket,” Semarjian said.

“Here at Industrial Commerce and IRG, we view this opportunity as both an investment, and a major addition to our portfolio.”

About a quarter of the plant is still available.

Land development opportunities on the surrounding 40 acres are being coordinated by Semarjian, Lichter and Dean Miller with Ohio Realty Advisers.

Miller was the broker who recently landed the SB Specialty Metals deal at Air Commerce, the details of which are here: https://andyhemmer.wordpress.com/2012/07/06/air-commerce-at-dayton-international-airport-lands-sb-specialty-metals-courtesy-industrial-commerce-ltd-of-cleveland-irg-of-los-angeles/

Tenneco (www.tenneco.com) is a strategic global supplier to the Ford Motor Co., providing emissions and ride-control components for a wide line from the Ford fleet, as well as light- and medium-duty trucks.

Based in Lake Forest, Ill., the company employs 24,000+ worldwide manufacturing the Monroe, Walker and Clevite Elastomer brands, among others.

The transaction closed on Friday, June 29, the financial details of which will be kept private. Last year, Semarjian/Lichter team from Industrial Commerce Ltd. and IRG (www.irg.cc) struck a deal with Delphi Automotive to buy three Delphi plants in Warren, Ohio, in August.

For media inquiries regarding the Industrial Commerce Ltd/IRG team, please contact Mr. Andy Hemmer, President of AndyHemmer.com PR at (513) 604-5428 or andy@andyhemmer.com.