Port Authority approves bonds for warehouse near Toledo Express Airport
Financing for an 80,000-square-foot warehouse at the budding Express Industrial Park was approved Thursday morning by the Toledo-Lucas County Port Authority’s board of directors.
The $5 million in taxable bonds from the Northwest Ohio Bond Fund will be personally guaranteed by Ed Harmon, the developer with whom the port authority has worked on both of its industrial parks: Express near Toledo Express Airport, and Willys at the former Jeep plant site in central Toledo.
That plus a loan of up to $1 million from Lucas County Builds will finance construction of a warehouse to be used by Clarios, a local automotive battery manufacturer. According to a port authority staff report, Clarios will consolidate its warehousing at the industrial park on the airport’s south side.
The land involved was previously leased to Harmon Development, LLC with port directors’ approval.
The building would be the second built on the Express Industrial Park site and just south of Phoenix Industrial Technologies, Inc., which occupies the first, built 10 years ago.
Since then, the port authority has spent more than $2 million on roads, utilities, and wetlands mitigation to support other development in the area between the former Burlington Air Express cargo hub, now used by Tronair to manufacture aviation equipment, and U.S. 20A.
In other business Thursday, the port authority directors:
- Approved the award of a $337,200 contract to Utopia Construction of Perrysburg for repairs to the parking garage at One Government Center. Utopia’s bid was the lowest of five for the contract, which includes concrete patching and sealing, joint repairs, and plumbing repairs.
- Authorized the addition of up to $80,000 to a contract with Brint Electric for installing LED lighting at One Government Center because the light-emitting diode fixtures became subject to new Trump administration tariffs on Chinese products before the contract could be finalized.
- Approved a five-year general consulting contract with RS&H Ohio, Inc., to oversee various projects at port-managed airports. RS&H was chosen from among three firms that submitted proposals in accordance with Federal Aviation Association rules for general consulting work related to federally funded airports.
Projects planned for design or construction during the next five years include rehabilitation of three taxiways at Toledo Express and improvements to the passenger screening area there, and runway rehabilitation, pavement crack-sealing, and wildlife fences at Toledo Executive Airport.
Posted By: The Blade on May 23, 2019. For more information, please click here to read the source article.
To receive the In The Know from Signature Associates, please click here to be added to our mailing list.
« Back to News
Did you know?
- In 2018, Signature completed more than 1,129 transactions totaling 29.8 million square feet and 1,494 acres with a total value of $969 million.
- Signature Associates has 6 veterans or active duty military officers.
- Almost 60% of Signature’s professionals have been with the firm at least 10 years.
- Signature completed more than 1,129 transactions in 2018.
- Signature loves animals! Over 60 professionals have dogs and 20 professionals have cats and collectively we’ve raised thousands of dollars in the last year alone for area animal shelters.
- Signature is featured as: Best & Brightest Companies to Work For 2018 & 2017, Cool Places to Work 2018, 2017 & 2016, and Top Workplaces 2018, 2017, 2016, 2015 & 2014
- Signature Associates and its team donate time and money to over 40 organizations throughout Michigan, Ohio and the United States.
- Signature Advisory and Management Services team performed comprehensive construction management services for projects totaling over $60 million and managed more than 8 million square feet of commercial space for our third-party clients, making us the largest locally owned third-party property management firm in the market.
- Signature Associates has completed more industrial leases than any other brokerage firm.
- Signature Team Cares was formed in January 2017 to help further our efforts and long history of partnering with local organizations to improve lives and to benefit our communities.