California firm snags $20M Vandalia industrial portfolio, plans $2M in upgrades
October 22, 2026
By Lauren Steen – Staff Reporter, Dayton Business Journal
A $20.2 million real estate deal has put two industrial properties north of Dayton under new ownership.
The two-building industrial portfolio at 7400-7450 and 7462-7498 Webster Street in Vandalia was purchased by Webster Industrial Bager LLC in a transaction dated Sept. 21, according to Montgomery County property records. The seller was listed as Dayton Webster Street LLC.
The properties, listed as Buildings III and IV in the Webster Industrial Campus, total nearly 250,000 square feet across almost 19-acres near the intersection of Interstates 70 and 75. Both buildings are fully leased.
The buyer's mailing address ties to Sperry Equities, a California-based full-service commercial real estate investment and management firm. The company specializes in acquiring, operating and repositioning underperforming industrial, flex business parks and retail shopping centers across major U.S. markets.
The seller's address links to Tower Investments LLC — a California-based real estate investment and development firm. Tower Investments purchased the property in 2021 for $12 million, according to previous Dayton Business Journal reporting.
The recent sale was facilitated by Colliers, a professional services and investment management company. Colliers Industrial Capital Markets advisors Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel, alongside local market advisors Todd Cochran, Norm Khoury and Andrew Mullen, represented Tower Investments, according to a release.
“Webster Industrial Campus benefits from its position near two major interstate corridors and a workforce that supports Dayton’s manufacturing, distribution and service sectors,” Davenport said. “Investor demand remains strong for multi-tenant industrial properties that combine stable occupancy and diversified tenancy in markets with long-term growth characteristics.”
The buildings are 100% leased to eight tenants, including Jones & Frank Petro Group, Consolidated Electrical Distributors and E-Mek Technologies.
In a mid-September social media post, Sperry Equities outlined plans to invest approximately $1.8 million in capital improvements, including new roofs, refreshed parking lots and exterior painting.
The firm said the property's existing rents are approximately 10% to 15% below market rates, creating an opportunity for rent growth and increased cash flow as leases roll over in the coming years.
Sperry Equities already owns about 400,000 square feet of similar industrial product in Columbus. With industrial vacancy in Dayton at around 3% and continued investment surrounding Dayton International Airport, the firm believes the market is positioned for significant growth over the next five to10 years.
"Webster Industrial reflects an investment strategy we know well: acquire fundamentally strong real estate, identify opportunities others may overlook, and create value through hands-on asset management," said the post.