TOLEDO, Ohio — Industrial Realty Group announced Wednesday it has acquired the former Teledyne manufacturing plant in Toledo.
IRG purchased the property from the Toledo-Lucas County Port Authority. IRG purchased the building and 40 acres to the north.
The additional land is designed to accommodate 700,000 square feet of modern industrial space in the Toledo market.
"IRG owns high-performing projects across the Ohio landscape, but this will be our first in the Toledo market,” said IRG President Stuart Lichter. “There is a wealth of opportunity in Toledo, as it continues to experience historically low vacancy rates and strong user demand. This development will be a new chapter for the community; one that helps businesses grow and encourages job creation."
Hometown Food Co. will continue to lease a portion of the building.
