The owner of a Middletown manufacturer has bought the former Springboro distribution center of MCM Electronics for nearly $3.7 million.
Mark Booker, owner of Advanced Design Solutions at 1701 Reinartz Blvd., said he could use the newly acquired building at 405 S. Pioneer Blvd. to expand his Middletown business or as an investment property.
Right now, the latter possibility is more likely, Booker said in a phone interview Tuesday.
In any case, he is considering a possible move.
“I’m looking right now to lease it (the Springboro building) out. If I find a good tenant who’s using it, it may just become an investment property for me,” Booker said. “Then I’ll start looking for another building for myself.”
Booker’s company, with about 30 Middletown employees, makes steel shipping racks for the automotive industry, and he has 60,000 to 70,000 square feet of usable space at its current Middletown location, he said. The building is “chopped up” along multiple floors, he said.
The Springboro site would offer closer to 130,000 square feet of space.
“I am concerned that the building I have in Middletown may not satisfy my needs long-term,” Booker said.
Still, he said he has prospective tenants looking at the Pioneer Boulevard location, although he had no lease agreements to announce Tuesday.
“If we could find more employees, we could bring in more work,” he said of his Middletown operation.
The company also has an Ontario location, which Booker considers the company’s headquarters.
Real estate services firm Cushman and Wakefield was involved in the sale, Booker said. He confirmed the sale price of more than $3.6 million.
Dave Tobeson was the listing broker on the site.
“It certainly will be an investment property initially,” Booker said.
Last summer, MCM Electronics notified Ohio government that it planned to lay off employees at its corporate office at 650 Congress Park Drive in Centerville, and at its distribution center located at 405 S. Pioneer.
The layoffs were expected to begin on Sept. 30 and continue through Dec. 31.