Binswanger/CBB Arranges Sale of Navistar Manufacturing Plant in Urbana, Ohio

    PHILADELPHIA--May 28, 2002--On behalf of the seller, Muzzy Road Property, Inc., Binswanger/CBB recently negotiated the sale of a 134,735 square foot building on 53 acres in Urbana, Ohio.
    The property is located at 1570 Muzzy Road. Sale price was $1.2 million.
    Navistar International formerly occupied the property, operating an assembly plant for electrical truck harnesses. Navistar is a global leader in the manufacture and sales of trucks, buses and diesel engines, with nearly 1,000 dealerships in North America alone.
    The Muzzy Road facility was purchased by a private, local investor that will seek tenants engaged in the manufacturing and distribution industries. The new owner also plans to reactivate the property's railroad siding.
    This transaction marks the third sale completed by Binswanger/CBB in Urbana, following the sale of 50,000 sq. ft. to one of the first Honda suppliers, Tru-Tech Corporation, and the sale of the former 540,000 sq. ft. SC Johnson plant to Rittal Corporation.
    Headquartered in Philadelphia, PA, Binswanger/CBB is a member of Chesterton Blumenauer Binswanger, an international full-service real estate organization with over 160 offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, the Far East, South Africa and Australia.