July 27, 2013 10:46:32 PM
Sarah Fowler - email@example.com
What currently sits as an underused building at the intersection of Highway 69 and Yorkville Road in Columbus may soon become a bustling industrial center again.
The property that has most recently been Omnova Solutions Inc., an Ohio based company that produced wall covering at their Columbus plant, has been sold to Stuart B. Millner and Associates, an asset management company based out of St. Louis. According to a press release issued by Millner and Associates on Friday, the property will be developed into a multi-tenant industrial center. Omnova's distribution center will remain as a tenant on the property. The property is 700,000 square feet and sits on 92 acres.
"With loading docks, rail service and the property's proximity to Highway 82 East, the property has the amenities necessary for tenants needing warehouse storage, a manufacturing facility, and service and delivery industries," the release read.
Officials with Millner and Associates intend to invest $10 million in the property and expect phase one to be complete within the coming weeks. The completion of phase one will make the property ready for occupancy.
Multiple companies have been located at the property since it was developed in 1963. Omnova announced plans to phase out their manufacturing operations at the Columbus facility in 2011.
In May 2010, nearly 200 union workers went on strike after refusing to sign new contracts. The workers claimed the new contracts would cut their pay and their benefits, incentives, seniority and shirt rights. 140 replacement workers were hired by Omnova during the strike. The union workers remained on strike for over a year.
Millner and Associates has not announced a project completion date. Columbus architectural and engineering firm Pryor and Morrow will handle the layout of the various tenant spaces.
Sarah Fowler covered crime, education and community related events for The Dispatch.