News Summary
The former Delphi automotive plant in Warren has been sold for $9.4 million, indicating a strong demand for industrial space in Northeast Ohio. The facility, covering 94,000 square feet, was fully occupied by Aptiv, a subsidiary focused on manufacturing electrical components for various industries. The transaction highlights the growing interest in high-quality industrial assets in the region.
Warren, Ohio – The former Delphi automotive plant located at 4551 Research Parkway in Warren has been sold for $9.4 million, as confirmed by the real estate firm CBRE. The sale, which closed in August, has been reported to reflect a robust demand for industrial space in the Northeast Ohio area.
The facility, encompassing 94,000 square feet, was fully occupied by Aptiv, a spinoff of Delphi, at the time of its sale. Aptiv specializes in manufacturing electrical components for the automotive, aerospace, and defense industries, as well as systems for electric vehicles. This property forms part of Aptiv’s larger operational campus in Warren.
Industrial Commercial Properties was the seller of the building, while the buyer was PG Warren Industrial LLC, which was established in July prior to the property acquisition. PG Warren Industrial LLC is typically organized as an LLC to maintain the buyer’s anonymity in real estate transactions.
George Stevens from CBRE’s Cleveland office and brokers Steve Timmel along with Will Roberts from the Cincinnati office facilitated the transaction. Timmel noted the growing interest in high-quality industrial research and development assets in the region, emphasizing the ongoing investment appeal of such properties.
The facility, originally constructed in 1998 and renovated in 2014, features a ceiling height of 22 feet and occupies a site that spans 11.85 acres. Earlier reports indicated that Aptiv was closing one of its two plants at the Warren site; however, the sold property remained fully occupied during that time.
Industrial Commercial Properties is a substantial owner and developer in the area, managing a portfolio that includes 150 properties totaling 46.5 million square feet.
This sale underscores a positive trend within the industrial real estate market, as companies like Aptiv continue to operate in facilities that support their manufacturing and research functions. The transaction denotes not only the specific interest in this property but also reflects a broader movement toward securing quality industrial spaces in Northeast Ohio.
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Additional Resources
- Crain’s Cleveland: Former Delphi Automotive Plant in Ohio Sells for $9.4 Million
- WFMJ: Kimberly-Clark Corporation to Build $800M Manufacturing Facility in Warren
- PR Newswire: Kimberly-Clark Announces Plans to Invest Over $2 Billion
- Supply Chain Dive: Kimberly-Clark Invests $2 Billion in US Facilities
- WCPO: Gas-Fed Fire at Industrial Facility Injures 1 in Franklin
- Wikipedia: Industrial Research and Development
- Google Search: Industrial Real Estate Northeast Ohio
- Google Scholar: Manufacturing Facilities Ohio
- Encyclopedia Britannica: Automobile Production
- Google News: Industrial Property Investment Ohio
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