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MERCER CTY, OH-In one of the largest transactions in Mercer County history, AGCO Corp. has sold a roughly 1.4 million-sf industrial property to Sandusky Investments, an affiliate of Bruns Building and Development.

Located on an 80-acre parcel at 123 W. Sycamore St., the three-building asset comprises a 1.1 million-sf industrial building, a 296,000-sf industrial building and a roughly 14,000-sf training center. Caleb Fox, a senior vice president with Binswanger/CBB’s Ohio office, represented both parties in the transaction.

According to Fox, who would not reveal the sale price of the property, AGCO was hanging onto a mostly empty property that was costing it about $1.25 a year in upkeep. “The driver was to stop the hemorrhaging,” he tells GlobeSt.com. “Their choice was to tear it down–at yet another expense–or try to market it.”

The property’s major occupant is Dayton-based communication management firm Relizon, which has a 10-year lease for approximately 230,000 sf in the smaller of the two industrial facilities. According to Fox, Relizon spent in the neighborhood of $6 million to build out the space. The buyer plans to renovate the remaining space and seek additional tenants.

St. Henry-based Sandusky Investments/Bruns Building and Bruns Building and Development is a local investor and building contractor.

AGCO Corp., headquartered in Duluth, GA, is a major manufacturer, designers and distributors of agricultural equipment including brand name products such as Massey Ferguson and Fendt.

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