Warehouse
Multi-Tenant Industrial Warren OH
621 Dana St NE, Warren, OH 44483
Listing Price: $4,500,000
Investment Overview
Marcus & Millichap is pleased to present for sale the fee-simple interest of a 259,000 SF multi-tenant industrial building, located at 621 Dana Street NE, Warren, Ohio 44483. The class C, one-story building with an open floor plan and mezzanine, was built in 1940 and renovated in 1970 and 2019, is 94.4% occupied by 7-tenants with modified gross leases.
Vulkor and Wire Express (same ownership) will be shutting down their operations at years end, leaving 5 tenants occupying 44.8% of the RBA. The upside to this upcoming vacancy is the opportunity to retenant the space with multiple tenants paying higher market rents. Vulkor and Wire Express are paying well below market rents and there is minimal to no cost in subdividing the space. The projected rents after the vacancy are still able to cover the building’s operating costs and service the seller’s financing debt.
The building is situated in a Qualified Opportunity Zone on approximately 12 acres zoned manufacturing and is accessible by an inside rail spot, once reactivated. Tenants are billed for utilities by landlord through sub-meters. The building features approximately 16,000 square feet of vacant offices on the mezzanine level, bridge cranes, external docks, dry sprinkler system, and drive-in doors. The roof was replaced in 2019 with an 18-year warranty. Additionally, there is a 40’ high-bay section which adds to the building’s high functionality for warehousing and manufacturing. The short-term leases are typical of the high demand for on-demand industrial and warehousing space and allow ownership the opportunity to maintain market rents.
This is an ideal opportunity for an experienced value-add operator or owner-user to acquire a highly functional asset at well below per square foot market rates.
Area Development. Kimberly-Clark Corp., a global leader in personal care and hygiene products, has announced plans to invest $800 million in a new 1,000,000+ SF advanced manufacturing facility nearby. The project is expected to create approximately 491 jobs.
Warren is a submarket in Youngstown, OH, which saw industrial rent increase 5.4% on average over the past 5 years to around $5.00/SF. Vacancy in the Warren industrial submarket is 7.7%.
Investment Highlights
- Open Floor Plan
- Highly functional building
- Below market rents
- Bridge Cranes
- Inside rail spot (inactive)
- Seller Financing
- Dry sprinkler system through-out
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director / Chief Revenue Officer
Listing Price: $4,500,000
Investment Highlights
- Open Floor Plan
- Highly functional building
- Below market rents
- Bridge Cranes
- Inside rail spot (inactive)
- Seller Financing
- Dry sprinkler system through-out
Investment Overview
Marcus & Millichap is pleased to present for sale the fee-simple interest of a 259,000 SF multi-tenant industrial building, located at 621 Dana Street NE, Warren, Ohio 44483. The class C, one-story building with an open floor plan and mezzanine, was built in 1940 and renovated in 1970 and 2019, is 94.4% occupied by 7-tenants with modified gross leases. Vulkor and Wire Express (same ownership) will be shutting down their operations at years end, leaving 5 tenants occupying 44.8% of the RBA. The upside to this upcoming vacancy is the opportunity to retenant the space with multiple tenants paying higher market rents. Vulkor and Wire Express are paying well below market rents and there is minimal to no cost in subdividing the space. The projected rents after the vacancy are still able to cover the building’s operating costs and service the seller’s financing debt. The building is situated in a Qualified Opportunity Zone on approximately 12 acres zoned manufacturing and is accessible by an inside rail spot, once reactivated. Tenants are billed for utilities by landlord through sub-meters. The building features approximately 16,000 square feet of vacant offices on the mezzanine level, bridge cranes, external docks, dry sprinkler system, and drive-in doors. The roof was replaced in 2019 with an 18-year warranty. Additionally, there is a 40’ high-bay section which adds to the building’s high functionality for warehousing and manufacturing. The short-term leases are typical of the high demand for on-demand industrial and warehousing space and allow ownership the opportunity to maintain market rents. This is an ideal opportunity for an experienced value-add operator or owner-user to acquire a highly functional asset at well below per square foot market rates. Area Development. Kimberly-Clark Corp., a global leader in personal care and hygiene products, has announced plans to invest $800 million in a new 1,000,000+ SF advanced manufacturing facility nearby. The project is expected to create approximately 491 jobs. Warren is a submarket in Youngstown, OH, which saw industrial rent increase 5.4% on average over the past 5 years to around $5.00/SF. Vacancy in the Warren industrial submarket is 7.7%.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Executive Managing Director / Chief Revenue Officer

