Cleveland-based developer Industrial Commercial Properties (ICP) has completed a significant acquisition by gaining control of the last remaining land available for development in the Kettering-Beavercreek Miami Valley Research Park. This strategic move involves an acquisition of 134 acres of developable land, marking a culmination of years of land acquisition efforts in the region.
According to Dean Miller, senior vice president of ICP, this acquisition enhances the area’s competitiveness for attracting major office, research, and light manufacturing businesses. “This acquisition strengthens the region’s ability to compete for major office, research, and light manufacturing users,” Miller stated. He emphasized that the move supports long-term job creation and offers scalable growth options for both existing and relocating companies.
The significance of ICP’s involvement in the Miami Valley extends beyond this recent acquisition. In 2022, the company facilitated the relocation of vital missions from the Wright-Patterson Air Force Base, bringing in employees from the Air Force Materiel Command and the Air Force Life Cycle Management Center, who leased 152,000 square feet of office space in the park.
ICP has been active in the Dayton area for over a decade, playing a pivotal role in several high-profile projects. The firm was instrumental in bringing Fuyao Glass America to a former General Motors plant in Moraine, along with acquiring the former LexisNexis campus in Miami Township, the former Tenneco plant in Kettering, and the Harco plant in Moraine.
In addition to this latest acquisition, ICP owns and operates Sixth River, a five-building office and industrial complex located along Research Boulevard within the research park. The recent purchase marks ICP’s 35th acquisition in the Dayton area, contributing to nearly 8.7 million square feet of developed or redeveloped space over the past 15 years.
“This acquisition allows us to partner directly with companies looking for a high-quality, campus-style setting while delivering modern, purpose-built facilities that support long-term growth and job creation,” stated Christopher Semarjian, owner of ICP. He emphasized the potential of this acquisition to act as a catalyst for the next wave of growth in the Dayton region.
The developments at the Miami Valley Research Park signal a promising future for local businesses and the economy, as ICP continues to shape the landscape of commercial real estate in this area. With a focus on modern infrastructure and strategic partnerships, ICP is poised to play a crucial role in fostering economic growth in the region.
