DAYTON, Ohio (WDTN) – Downtown Dayton’s tallest high-rise has officially been sold. Locally-owned company, Stratacache bought the Kettering Tower for $13 million.
Dayton’s city manager Shelley Dickstein said the sale is a good sign for downtown’s continued efforts to revitalize the area.
“[It’s] an opportunity to have, for the first time in over 20 years, a local owner owning our premier office tower,” Dickstein said.
Kettering Tower is the second major property aquisition by Stratacache, in recent months. In December, the company bought downtown’s Courthouse Plaza building, for $1.7 million.
Dickstein says this latest sale only speaks to Dayton’s continued and successful efforts towards encouraging economic development and investment.
She says it’s something that’s understood by Stratacache CEO Chris Riegel.
“All the work the city has done to date, that really has created the renaissance in downtown,” she said.
“The strategic investments made to try and create the momemtum that we’re experiencing today is what impressed on him [Riegel] and actually motivated him to pursue some of the properties that he currently owns.”
She acknowledged the city’s revitalization has been a long process, and she’s looking forward to continued growth.
“It’s really an exciting time to be here and working with all the developers and private sector to help drive Dayton to the next level,” Dickstein said. “I think Dayton’s on its way to be a really cool city.”
Stratacache has not released any detailed plans about the future but Dickstein says the city is looking forward to a strong private-public partnership.