You are currently viewing Industrial Commercial Properties plans to buy land in Kettering Business Park which housed Synchrony Financial jobs

Industrial Commercial Properties plans to buy land in Kettering Business Park which housed Synchrony Financial jobs

The 36.5-acre property was purchased by F1 Kettering LLC of California in 2008 for an undisclosed price, according to Montgomery County land records. He purchased the property from Forward One LLC, which paid $37.9 million for it two years earlier, documents show.

The buildings are currently vacant, officials said.

The land makes up nearly a third of the 120-acre business park, which is home to major employers Alternate Solutions, Amazon and Kettering Health, according to city records.

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F1 Kettering owns about 47 acres at KBP and nearly 43 acres are owned by other businesses, city officials said. Kettering owns nearly 28 acres.

ICP would like to have office and/or light industrial tenants at 950 Forrer, but currently has no commitments from individual users, Miller said.

“We don’t expect it to be a pure office call center or anything specific like that,” he said. “That’s exactly why we’re looking at flexibility for different users…we actually see it most likely as a multi-tenant building with a mix of different types of uses” that aren’t “substantially different from what it is now.

“We actually like the look of the buildings. I think there’s a good chance they’ll look a lot alike, but maybe need to be modified a bit to suit light industrial use or something,” Miller added.

“It could also very well have office tenants,” he noted. “We just think it’s probably going to be a mix, smaller than Synchrony” that “forms a kind of business community, hence the change in business park designation.”

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ICP also owns four properties at Miami Valley Research Park in Kettering and the former General Motors land occupied by Tenneco, which plans to close Kettering operations that house about 600 jobs.

He also worked with Industrial Realty Group to acquire most of the LexisNexis office campus in Miami Township last year.

The Forrer lot is currently zoned office. A proposal to change that designation to a business park would allow for industrial-type uses including laboratories, manufacturing, manufacturing and product assembly, said Kettering planning and development director Tom Robillard.

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The change would not negatively impact neighboring lands, he told city officials last week.

“We believe the particular use…will have no adverse impact on adjacent lands,” Robillard said.

Kettering City Council plans to vote on the issue at an upcoming meeting, Kettering Mayor Peggy Lehner said.

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