July 1, 2016
The Fostoria Economic Development Corp. is financing construction of a 40,000-square-foot speculative industrial building to make the suburban Toledo city more appealing for business development.
The EDC has spent $1.2 million on the project, which will be completed in September. The asset is on six undeveloped acres within Fostoria Industrial Park, and can be expanded by an additional 60,000 square feet.
Renee Smith, EDC president, said that availability of modern, move-in-ready industrial space is increasingly important for site selectors. “Most projects we see, they want a building they can just move right into,” she said. “And most companies are not real interested in buildings that are more than 15 years old because they’re going to have to invest a lot in those buildings.”