A longtime Dayton-area industrial property investor has purchased the Harco Manufacturing plant in Moraine for nearly $3.2 million, according to local property records.
The plant at 3535 Kettering Blvd. sold last week from Kettering Woodbine LLC to Moraine 3535 Kettering LLC, according to Montgomery County and state records. The building sold along with nearly 18 acres.
The sale price was $3.16 million.
Chris Semarjian, principal of Industrial Commercial Properties LLC, based near Cleveland, said his firm bought the plant.
“We’re going to hold it,” Semarjian said Tuesday. “Obviously, we’re very bullish on Moraine, and the facility is very, very contemporary, with the ceiling heights and the power and the loading and the location. And we just think it’s a good asset to hold, especially with our Moraine holdings.”
ICP has a long history in Moraine — and other parts of the Dayton area.
Working with California-based investor Stu Lichter, the firm bought the former General Motors assembly plant in Moraine next to the Harco facility in 2011, three years after GM closed that plant, opening the door to Chinese manufacturing giant Fuyao’s purchase of the building in 2014. Today, nearly 2,000 people are employed by Fuyao.
Harco Manufacturing will continue to operate in the building ICP just bought, Semarjian said.
In 2015, Chinese manufacturer Sunsong Holdings Inc. acquired Harco, which had been founded in 1976. Harco makes automotive brake hose assemblies, serving the original equipment manufacturing market from the 311,000-square-foot facility. At the time, Harco had about 100 employees.
“We plan on having them as a tenant for as long as possible,” Semarjian said.
The plant is a former Delphi facility. Harco moved there from Englewood in 2008.
Semarjian said his firm plans to demolish and move equipment in the former GM paint shop, the multi-floor structure across West Stroop Road from what is now Fuyao. ICP continues to own that structure.
“We’re about to commence our demolition there to get out all of our equipment and take out the second-story floor, so it will be a much taller facility,” he said.