PIQUA – Industrial Property Brokers Principal Tim Echemann, SIOR, CCIM, announced that his firm managed the sale of a 24,000-square-foot manufacturing and warehouse facility located at 9700 Looney Road in Piqua to Innovated Technologies LLC, a fast-growing equipment manufacturing and automation systems maker that will relocate from Sidney after tenant improvements are completed at the Looney Road building.
Innovated Technologies provides solutions and turnkey options in engineering, control systems, panel fabrication, electrical construction and information services. The company serves a diverse set of industries and specializes in plant and equipment maintenance and facility expansions.
The sale price was not disclosed. Tim Echemann was the only broker involved in the sale. The seller was Unity National Bank.
The building is on approximately 3.3 acres of land and can be expanded substantially. It has 13 feet to 18 feet of clear height, four drive-in doors and two docks, with about 1,400 square feet of office space.
Innovated Technologies LLC was started by Brian Preston in 2009 in his barn in Miami County. In 2014, he leased approximately 8,500 square feet of manufacturing space at 2851 Millcreek Rd. in Sidney and since that time has been growing rapidly.
“Sales have been growing 50 percent or so each year for the past six years, and we now have 18 full-time employees and could add another 20 once we move into the new space,” Preston said.
The jobs are above average in terms of pay scale with most of them requiring engineers and highly skilled technicians.
Preston said he is investing upward of $200,000 on improvements for his new building and hopes to occupy it within 90 days. The general contractor doing the improvements is Harlow Builders Inc.