NEW: Investors acquire Englewood facility for $12 million
Mar. 17—A Texas limited liability company has purchased a Lau Parkway manufacturing complex for $12 million, new property records show.
The deed identifies 1 Lau Parkway LLC, of Pepper Pike, Ohio, as the grantor or seller. The buyer is AIC Income Fund II Lau, of Austin, Texas.
A brief notice on AIC Industrial's web site confirms the purchase.
The address given in the deed is 1 Lau Parkway, in the Englewood Otterbein Commerce Park. Twenty acres of land were part of the purchase.
The former home of Lau Industries, which built the site in the late 1990s, records show the property has nearly 190,000 square feet of manufacturing space with nearly 10,000 square feet of office space.
Lau today operates at 4509 Springfield St., Dayton. The company makes air-moving components and fan systems for the heating, ventilation, air conditioning and refrigeration industry.
The current tenant, Hart & Cooley, specializes in manufacturing and supplying components for the HVAC industry, AIC said.
A message seeking comment was sent to AIC Industrial.
