Long-held Niles industrial property heads to auction for first time in 52 years
For the first time in over five decades, a long-held industrial property in the city of Niles is on the market.
The property and its assets at approximately 840 Ann Ave. and Olive Street comprise one of the region’s largest covered, outdoor industrial storage sites, with room to grow.
The three-property portfolio includes 19 acres of industrial land for heavy manufacturing, along with warehouse and office spaces, and is scheduled for sale at an online auction on March 19.
The three properties are:
- Office/warehouse with 10,562 square feet with dock and drive-in, supporting administrative and operational functions.
- Warehouse with 23,448 square feet with substantial power capacity supporting fabrication and production uses.
- 17.87-acre covered industrial outdoor storage site with 120,000 square feet of canopy coverage and a 160,000-pound truck scale with 992 feet of frontage along Olive Street.
All three properties are within 500 yards of each other, and are being offered via National Online Absolute Auction.
Bids can be placed on one, two or all three assets.
The site has been owned and operated by a single family for 52 years as part of a long-running industrial operation serving the region’s manufacturing and contractor economy.
Michelle Angeny is a commercial real estate advisor with eXp Commercial.
“This portfolio reflects the kind of long-term industrial ownership that helped shape the Mahoning Valley’s manufacturing economy,” Angeny said. “We’re grateful for the collaboration and data support from the Lake-to-River team and the city of Niles as we bring this opportunity to market.”
A major attraction for the property is the large-scale protected outdoor storage for trucks, equipment and materials with additional vacant land for expansion.
This type of property has been in increasing demand nationwide as logistics, contractor services, and equipment-intensive industries expand, according to agents.
Registration and bidding for the absolute auctions are currently open and will close at 3 p.m. on March 19.
The auction will be conducted by Transition Auction Group via secure online bidding platform. Due diligence is available for qualified bidders.
Pre-auction bidder tour and inspection dates are available by appointment.
