City of Toledo Completes Sale of More Than 110 Acres that will Create 335 Jobs
Over the past several weeks, the Department of Economic Development has been hard at work finalizing the transfer of four city-owned properties that will lead to the retention of 193 jobs, the creation of 335 jobs, and $41 million of capital investment. “Our team has been working relentlessly to close these transactions in record time to bring these job creation projects to fruition.” Brandon Sehlhorst, commissioner of economic development for the city, said. “Between the four projects, more than 110 acres of underutilized city-owned property is being put back into productive use in a manner that creates jobs, investment, and sale proceeds for the city.”
- Textileather, 3808 Twining St.
Earlier this week, Stellantis closed on the purchase of the 40-acre Textileather site from the city. The company will soon begin construction on a $23 million, 250,000 square foot vehicle customization facility. The project will create 300 jobs with an annual payroll of $12 million.
- Capital Commons, 5600 Angola Rd.
Estes Express Lines recently acquired the 50-acre Capital Commons property from the City. Estes is a privately-owned freight transportation carrier that provides end-to-end transportation and custom logistics services internationally. The company is planning to spend more than $4 million to expand its 33,100 square foot cross-dock terminal by 24,800 square feet. The expansion is necessary to accommodate growing demand for Estes’ services. The acquisition of the Capital Commons property gave the company the space needed to expand and remain in the City of Toledo. The project will retain 193 employees and create 15 positions.
- Triad Business Park
The city recently closed on its last remaining available property in the Triad Business Park. The 6.51-acre parcel was sold to a company that will invest $12 million in the construction of a new facility that will create 20 full-time equivalent jobs. The property is located in the Maumee-Monclova-Toledo Joint Economic Development Zone in which Toledo receives a portion of income tax that is generated within the zone.
- 1821 Front St.
As part of the city’s commitment to the Glass City Metropark and Riverwalk projects, a city-owned parcel was recently transferred to Metroparks Toledo that will be developed as an urban campground.