Press Releases
Marcus & Millichap Brokers Sale of 165,230-Square-Foot Industrial Facility in Ohio
March 27, 2025
SIDNEY, Ohio, March 27, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 165,230-square-foot industrial facility in Sidney, Ohio for $3,850,000.
“This was a complex sale involving a bankruptcy, a business winding down its operations and active equipment auctions taking place during selling the process,” said Nathan Pealer, first vice president investments. “We generated strong interest, managed multiple offers and tours and negotiated a deal that worked for both sides. There is strong buyer demand for well-located and high-function industrial facilities, even when there is significant vacancy.”
Pealer, investment specialist in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, Reliable Castings Corporation, and procured the buyer, Moxie Equities and Lido Realty.
Located at 1521 Michigan St., the property sits on more than 33 acres at the intersection of Interstate 75 and Michigan Street. Formerly home to Reliable Castings, the site includes heavy manufacturing capacity, a machine shop, warehouse, distribution spaces and offices. The buyer plans to improve and lease the property, and marketing efforts are already underway.
“This was a complex sale involving a bankruptcy, a business winding down its operations and active equipment auctions taking place during selling the process,” said Nathan Pealer, first vice president investments. “We generated strong interest, managed multiple offers and tours and negotiated a deal that worked for both sides. There is strong buyer demand for well-located and high-function industrial facilities, even when there is significant vacancy.”
Pealer, investment specialist in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, Reliable Castings Corporation, and procured the buyer, Moxie Equities and Lido Realty.
Located at 1521 Michigan St., the property sits on more than 33 acres at the intersection of Interstate 75 and Michigan Street. Formerly home to Reliable Castings, the site includes heavy manufacturing capacity, a machine shop, warehouse, distribution spaces and offices. The buyer plans to improve and lease the property, and marketing efforts are already underway.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
