Neyer Properties continues to expand its geographical reach and focus on industrial and multi-family residential development by completing three significant acquisitions over the last 30 days. The properties are in Dayton, Northern Kentucky and Nashville, Tennessee.

Most recently, Neyer closed on approximately 28 acres of land just off of Route 9 in Wilder, Kentucky. Neyer was attracted to this site due to its proximity and easy access to I-275 and I-471. Additionally, the acreage is one of the last developable sites east of the I-275 beltway in Northern Kentucky. The $40 million development plan includes up to 350,000 square feet of industrial buildings with an approximate 150,000 square foot speculative building to begin in 2022.

In October, Neyer purchased a 102,400 square foot industrial warehouse located at 3250 Old Springfield Road, adjacent to the Dayton International Airport. This building is fully occupied by Masonite, who manufacturers residential doors.

Neyer was attracted to the building due to its location, credit tenant, and purchase price well below replacement cost. Will Roberts with CBRE represented the seller, Woodmen of the World, in this transaction.

Neyer continues to expand its growth in other markets, having recently closed on nearly 8 acres of land parcels in east Nashville. The land is the last developable site in this corridor of Nashville. Neyer purchased the site to develop a $60 million multi-family residential, scheduled to break ground mid-2022. Neyer was attracted to this site for multi-family residential as the property sits amid an area of high-density office and hotel properties, but features very little housing stock, especially newer housing product.

Previously in 2021, Neyer purchased over $30 million of industrial and retail properties equating to in St. Louis, Evendale, Florence, and Eastgate. With these recent acquisitions, Neyer has acquired 500,000 square feet and nearly 50 acres of land for development this year alone.