California investor buys Vandalia properties for $12 million

A national real estate investment firm recently purchased industrial warehouse-zoned property at and around 7400 Webster St. for $12 million, local property records indicate.

Core to the transaction was a 132,192-square foot building at that address, sold by Garrett-Ryan LLC to Dayton-Webster Street LLC.

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Other addresses included in the sale were 7450, 7462 and 7498 Webster, in Vandalia.

The purchasing limited liability company has a Woodland, California address that matches the headquarters of Tower Investments.

Tower Investments, LLC is a real estate investment and development company owned by seven members of the Stephen Marks Sr. family and their employees.

The Ohio secretary of state registration papers for Dayton-Webster Street LLC were signed by Stephen Marks Jr.

Locally, Tower also lists the Stanley Service Center, a 63,850-square-foot multi-tenant industrial warehouse at 2416-2524 Stanley Ave., and a 3,800-square-foot, multi-tenant industrial/flex building located at 3500-3560 Park Center Drive.

The company says it has 75 active real estate projects in 17 states.

Message were sent to Tower Investments and Vandalia city officials seeking comment.

Montgomery County property records give the sale date as Tuesday.

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About the Author

Thomas Gnau

Thomas Gnau is a business reporter who joined the Dayton Daily News in 2007. He has reported for daily newspapers in Ohio since 1991.