CORFAC News

Piqua, Ohio (November 12, 2010) – The Ohio industrial market is going to the dogs, announced Tim Echemann, broker and principal with Industrial Property Brokers/ CORFAC International (IPB), a leading full-service commercial real estate provider serving the Western Ohio and Eastern Indiana markets.One More Chance Pet Rescue and Adoption, our nation’s second largest “no kill” dog rescue facility, has opened a 30,000 square foot operation in the 130,000 square foot Clark Avenue Distribution facility in Piqua, Ohio. Jeff Burgess, president, choose the facility due to the layout and many amenities that the Clark Avenue Distribution center offers. Mr. Burgess commented on the excellent docking, ventilation and an industrial district near Interstate 75 provided the key elements in his decision. The facility will service a 16-county region surrounding the Piqua, OH.One More Chance Pet Rescue and Adoption’s new address is 125 Clark Street, Piqua, Ohio. A long term lease was executed and tenant improvements underway including a major construction of 6’ x 8’ dog kennels, water distribution and offices. Terms of the lease were not available. One More Chance is the second tenant to lease space at Clark Avenue Distribution facility, which is listed for sale at $650,000.“It is highly unusual for a commercial space occupier such as a pet adoption facility to lease a large industrial building, so it is a unique deal in the market,” said Tim Echemann of Industrial Property Brokers, who managed the transaction for One More Chance Pet Rescue and Adoption.Mr. Echemann added that the deciding factor was finding a quality space at well below market rates at $1.50 (gross) on a per-square-foot basis. This scenario is being played out over and over today as companies take advantage of the industrial real estate market, according to Mr. Echemann. The market is beginning to shift, however, as many of the best locations in the region are being snapped up.One More Chance to the Rescue has operated since 1999 in Medway, Ohio and is supported by donations from a number of agencies and volunteers. Over 3,500 dogs have been adopted out since 1999. Mr. Burgess said that the local pet stores and veterinarians will immediately benefit from the operation.Volunteers are desperately needed for kennel construction and care of the pets. Volunteers should call (937) 216-3647 to learn more.Industrial Property Brokers/CORFAC International is a premier full service real estate company offering sales, leasing, investment analysis, tenant representation, and property management throughout Western Ohio and Eastern Indiana.  The company is located at 213 N. Ohio Ave., Sidney, Ohio and also maintains an office in Napoleon (near Toledo), OH. For more information on the Clark Avenue Distribution Center, business and individuals are encouraged to contact Tim Echemann @ 937-492-4423 or visit www.industrialproperty.biz.About CORFAC InternationalCORFAC International is one of the largest commercial real estate services organizations in the world and celebrates its 21st year in 2010. U.S.-based CORFAC is comprised of privately held entrepreneurial firms serving more than 150 markets in The Americas and internationally through alliances with UK-based King Sturge, BDI in Mexico, Rios Commercial in Puerto Rico and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million square feet and valued each year in excess of $30 billion.  For more information on CORFAC contact 954-923-6160, info@corfac.com or visit www.corfac.com.