NAI Hiffman, the largest independent real estate services firm in the Midwest, today announced it brokered the $16.65 million sale of 8200 Broadwell Road, a 479,598-square-foot aerosol can manufacturing facility in Cincinnati. NAI Hiffman’s Capital Markets Group Executive Vice President Pat Sullivan and Vice President Ryan Chambers, and Newmark Knight Frank Executive Managing Director Si Pitstick, marketed the property on behalf of the owner, Leasco Management. A private buyer from Southern California purchased the fully occupied facility.

BWAY Corporation, a subsidiary of Mauser Packaging Solutions, has more than nine years left on its absolute triple-net lease of the facility. This mission-critical asset has been occupied by BWAY or its predecessors since 1965 and is its second-largest aerosol can manufacturing facility in the U.S. The tenant continues to make significant capital and productivity-related investments in the property, adding to the already extensive amount of heavy machinery within the plant.

“The same tenant has been operating in this facility for more than 55 years, so buyers were drawn to the deal’s steady cash flow and high probability of tenant renewal,” said Chambers.

BWAY Corporation is a leading North American supplier of general line rigid containers, with more than 4,000 employees operating 25 plants throughout the U.S. and Canada. Mauser Packaging Solutions works with businesses around the world to service the full packaging lifecycle, from design, manufacture and delivery, to recollection, refurbishment and recycling.

About NAI Hiffman:

NAI Hiffman is the largest independent real estate services firm in the Midwest, providing leasing, management, tenant representation, capital markets, project management and marketing services for institutional and private owners and occupiers of commercial real estate. It currently leases and manages an 89+ million square foot portfolio of more than 700 commercial properties throughout the region, with a primary focus on metropolitan Chicago.  With more than 200 employees, NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific. For more information, please visit www.hiffman.com.

NAI Hiffman brokered the $16.65 million sale of 8200 Broadwell Road, a 479,598-square-foot aerosol can manufacturing facility in Cincinnati.