A Las Vegas investment firm has quietly rolled into Loveland, scooping up a massive industrial warehouse northeast of Cincinnati that had been sitting on the market for more than two years.
An affiliate of Odyssey Real Estate Capital bought the 257,810-square-foot building at 119 Northeast Drive in Loveland Commerce Park during the first week of March. The property, which sits on roughly 10 acres, had been advertised to industrial users but had yet to land a new owner until now.
According to the Cincinnati Business Courier, the sale closed in early March and the buyer is listed as 119 Northeast I LLC. Loan documents reviewed by the Courier show a mortgage issued by Kansas City-based North American Savings Bank totaling nearly $11 million. Company registration and loan paperwork tie the LLC to a Kansas holding company managed by Graham Nelson.
Who Is Behind the Buyer
Public records point to 119 Northeast I LLC being tied to Graham Nelson, who is listed as a partner at Odyssey Real Estate Capital. The team page for Odyssey Real Estate Capital identifies Nelson as a partner and notes that the firm is based in Las Vegas with a presence in Kansas City, which lines up neatly with the details in the loan documents.
What the Property Brings to the Table
The single-story industrial complex clocks in at about 257,810 square feet, including roughly 5,800 square feet of office space, and covers approximately 10 acres in Loveland Commerce Park. Brokers have pitched the site to distribution and light-manufacturing tenants, emphasizing multiple loading docks, 20 to 24 foot clear heights and heavy electrical capacity…