Fostoria, Ohio – Industrial Property Brokers and Colliers International in Greater Cincinnati are pleased to announce the completed sale of an industrial warehouse at 130 W. Jones Road in Fostoria, Ohio, for $10 million.
The 588,000-square-foot industrial property was sold by Herb Krumsick to an undisclosed buyer. Tim Echemann, SIOR, CCIM, President of Industrial Property Brokers and Norm Khoury, CCIM, SIOR, Brokerage Senior Vice President with Colliers International in Greater Cincinnati, represented the seller in the transaction. “We have seen an uptick in industrial activity in areas surrounding Fostoria,” said Echemann. “This is the first large property sale the community has seen in sometime. It’s a positive sign for more transactions to move forward.”
The 558,000-square-foot warehouse property sits on 12.625 acres and was almost full leased at the time of the sale by a variety of tenants. Krumsick is one of the top investment brokers in the U.S. and has been in real estate investment for 45 years. He and his other principal partners, Dan Carney, the founder of Pizza Hut, and Ken Wagnon, who owns Capital Enterprises (150 Pizza Huts, Freddy’s Steakburgers and other restaurants concepts), bought the building when it was vacant. The investors quickly rehabbed the building; painted it, laid new asphalt in the parking lots, replaced damaged sheet insulation, fixed and installed T5 lighting and completed other general property maintenance. About six months after they purchased the facility, the entire building was leased to Ohio Logistics and H.J. Heinz. During the down turn in the economy a few years ago, there was a significant amount of vacancy in the building. Today the property is 95% occupied. “This has been a good investment for us. We are very pleased that we were able to turn it around and fully lease the facility and eventually sell it,” stated Krumsick.
Krumsick added, “We also owned the 488,000 square foot. warehouse located at 110 E. Jones which we purchased at about the same time. We rehabbed that building and leased it to Arm & Hammer. We sold that building last year to an investment group that is Boston based.”
Khoury added that “it’s great to see tertiary cities along the I-75 Corridor, like Fostoria, making strides in commercial real estate.” Khoury and Echemann have worked together for more than 20 years in the Industrial/Commercial real estate industry, specifically in the marketing of industrial properties along the I-75 corridor.
An onslaught of retiring baby boomers; the uncertain duration of Social Security funding; difficulty with workplace retirement accounts like 401(k)s – even if these factors were stronger than they are now, you’d still have a heavy burden in managing your finances during retirement, says financial planner Carl Edwards.
“Financial planning for retirement has always been a daunting prospect; the current landscape simply makes your preparation that much more crucial in using your assets well,” says Edwards, a highly credentialed consultant and owner of C.E. Wealth Group, (http://www.cewealth.com).
“Many advisors and clients rely too much on single product lines. This misuse often gives products and the financial industry in general a bad name. Advisors who are restricted in the types of financial products they can offer or understand may not provide the best advice. Independent and credentialed planners, on the other hand, don’t have their hands tied in what they can offer clients and may provide better advice.”
Edwards reviews seven essential points that everyone should know regarding retirement planning.
• Avoid trying to time the market. Markets often move in cycles and some investors believe that they can boost their investment returns by buying at the bottom and selling at the top. The problem is that investors are terrible at correctly predicting market movements and multiple studies have shown that market timers usually end up with significantly smaller retirement savings than buy-and-hold investors. While it can be stressful to see your portfolio plummet during a market correction, it’s important to stay calm and focus on your long-term strategy.
• Use risk-appropriate financial vehicles. Retiring can be a risky business. The days of relying on employer-provided pension plans are largely over and retirees now have to deal with risks including investment, inflation, healthcare, longevity and others. Though the total elimination of risk isn’t possible, we can manage many of them through competent retirement planning and a clear understanding of factors like your goals, time horizon and financial circumstances.
• Invest in the most tax-efficient manner. Taxes can take a big bite out of investment returns, which is why we stress tax-efficient planning with our clients. While taxes are just one piece of the overall financial puzzle, it’s important to structure your investments so that you are able to keep what you earn.
• Complete a cash flow analysis. Retirement will involve major changes to your finances. Sources and timing of income will change and financial priorities may shift as you start generating income from retirement savings. A cash flow analysis will identify spending patterns and help ensure that you have enough income to support your retirement lifestyle.
• Guarantee your required income. For many retirees, having income that is not subject to market fluctuations is an important part of their retirement plan. Many will have at least some level of guaranteed income from Social Security or defined benefit pension plans. However, if you are worried that your expenses exceed your guaranteed income, a financial advisor can help you explore options for additional streams of income for life. Guarantees are subject to the paying ability of the income provider.
• Utilize longevity planning. Today’s retirees are living longer than ever and many worry about outliving their assets. Longevity planning is about preparing for a happy, comfortable and independent retirement and can help ensure that your wealth lasts as long as you need it to.
• Consider the effects of inflation. Inflation is one of the biggest issues facing retirees because they are disproportionately affected by rising prices. Escalating food, fuel and medical costs can devastate a retirement portfolio unless these costs have been factored into your planning. Positioning your retirement portfolio to fight inflation is critical to ensuring adequate income in retirement.
(Carl Edwards, MBA, ChFC®, is a Chartered Financial Consultant® and is the owner of C.E. Wealth Group, (http://www.cewealth.com). He has passed the Series 7, Series 66 and Series 63 securities industry exams. In addition, he has passed the Series 24 principal exam. He represents High Street Asset Management as an Investment Adviser Representative and Calton & Associates, Inc. as a Registered Representative. Edwards is also a licensed insurance agent in Life, Health, Medicare Supplement and Long Term Care insurances.)
FINDLAY - The Findlay•Hancock County Chamber of Commerce has invited Bill Ruse, president and CEO of Strategy and Solutions, LLC, to be recognized as the honorary chairman at this year’s Chamber Golf Tournament on September 8, at the Findlay Country Club. Ruse was selected for his commitment and dedication not only locally but abroad most notably from his work at the Blanchard Valley Health System, former Chairman of the Chamber of Commerce in 2000 and 1993, and his leadership through the Findlay Rotary Club.
Bill retired from Blanchard Valley in 2001 after serving as its President and CEO for 36 years. In recognition of his years of leadership, Blanchard Valley named its new 65,000 square foot building on its Findlay hospital campus the “William E. Ruse Center”. A Rotarian since 1983 and a member of the Findlay Rotary Club, Bill has served as the Club’s President and chaired the Past President’s Committee. In addition, he’s served as an Assistant Governor of Rotary International, and became the Governor of Rotary’s District 6600, overseeing 67 clubs, for the 2003/2004 Rotary year. He has been active in many national, state and community organizations including the Findlay Hancock County Chamber of Commerce, United Way of Hancock County, Salvation Army of Findlay, Red Cross of Hancock County, Hancock County Safety Council, Findlay Development LLC, and The University of Findlay.
“Bill always has been and continues to be actively involved in the local business community not to mention his global humanitarian outreach through Rotary”, said Dionne Neubauer, Director, Findlay•Hancock County Chamber of Commerce. “As a visionary and great leader, it is with great pleasure that we honor him at the Chamber Tournament.”
A division of the Findlay-Hancock County Alliance, the proceeds from the golf tournament will go toward the overall mission of the organization to drive growth and prosperity in the Findlay/Hancock County region by providing resources to local small-to-large businesses, and improve economic opportunities for all. Registration deadline is August 29. For more information on the outing, contact the Chamber of Commerce at 419-422-3313, or visit FindlayHancockChamber.com.
(The Findlay•Hancock County Alliance is a partnership bringing growth and prosperity to the Findlay/Hancock County community. Through a strong economic development focus, leadership programs, business building initiatives and volunteer opportunities, the Alliance helps position its community among the best micropolitan communities in the United States. The Alliance is a blend of the area’s best resources including the Findlay•Hancock County Chamber of Commerce, Findlay-Hancock County Economic Development and the Hancock County Convention & Visitors Bureau.)
Industrial and Electrical supplier Dickman Supply is bringing additional experience to its Marysville store with the recent addition of Bill Conley. Conley has taken on the role of Branch Manager and brings 18 years of experience in electrical distribution with him. Bill is a 1998 graduate of The Ohio State University, beginning in the electrical distribution industry as an intern while at Ohio St.
Many area businesses will recognize Conley from his most recent position as an agent with Concept Sales, where he represented 12 of the industry’s top manufacturers in the greater Columbus area.
According to Dickman Vice-President, Chris Geise, “We are excited to have Bill joining our Marysville team. His knowledge and experience in the market will enhance the support we provide to customers at our newest location as we continue to grow in the Marysville area.”
Dickman Supply, which opened in Marysville in October of 2013 at 548 N Main Street, is one of the largest independently-owned and operated electrical and industrial suppliers in the state of Ohio, serving contractors, commercial, and industrial companies in West and Central Ohio and also Eastern Indiana from their locations in Sidney, Greenville, Celina, and Marysville.
In business, the only thing that matters is what works, says Peder Johnsen, a third-generation specialist in senior living communities.
“The people in your company who are dealing with your customers – the clerks, the caregivers, the customer service reps – are where the rubber meets the road,” says Johnsen, CEO of Concordis Senior Living, www.concordisseniorliving.com, which owns, operates and develops senior housing communities.
“That’s why it’s essential for the company leaders, the men and women in the offices that are often far from the front lines, to be where the action is on a regular basis,” he says.
Concordis’ specialties include managing senior-living communities for other owners and developers, an art it has perfected, Johnsen says.
“We developed certain practices over the decades, first by building assisted-living communities and then by operating them,” he says. “These practices work in any business because they keep the leadership actively involved in what’s going well – and not – on the front lines, and provides a system for regular communication through all layers of the company.”
Johnsen offers these tips for management that produces excellent results:
• Identify the influencers in each work group. As with most businesses, senior living communities require teams of staff, from administrators to housekeepers and everyone in between. Within the various groups that make up your business, identify the key players – the people who influence others’ behavior, whether or not they hold a title or official authority. Meet with them on a regular basis so you can stay plugged in to what’s happening on the front lines.
• Identify areas that need improvement. Talk to them about systems and areas that need to be fixed, overhauled or eliminated, and about how team members are working together. They’ll often have ideas for innovations. The idea is not to look for people or problems to blame, but to work together to develop solutions and improve the team’s overall efforts.
“The information you get in speaking with these key players is invaluable,” Johnsen says. “There may be nothing at all wrong, which is great, but these meetings give you, the CEO or manager, the information you need to constantly improve. It also reinforces the message to employees that they and their ideas are valued members of the team.”
• Figure out those “wildly important goals.” You can have the best people in the field working for you, yet if they’re not specifically guided to a certain goal, they are putting their time and effort toward an end that they’re assuming is correct. CEOs and other upper-level managers have the 30,000-foot view, so it’s up to them to guide everyone beneath them.
“Short-term priorities may change slightly or drastically on a regular basis,” Johnsen says. “Your team may be self-sufficient, but their vision is limited to their daily duties. If they don’t know that a goal or objective has changed, they can’t work toward it.”
(Peder Johnsen is the CEO of Concordis Senior Living, www.concordisseniorliving.com, which owns, operates and develops senior housing communities. He’s a third-generation assisted-living specialist whose grandfather and father built one of the first contemporary-style ALFs in Florida more than 30 years ago. Johnsen took over administration of two small facilities at age 18. Today, he runs the full spectrum of ALFs – from “ALF lites,” where most residents live very independent lifestyles but know assisted-living services are available if they should need them, to homes specializing in care for residents with Alzheimer’s and dementia. He is an industry leader in staff development and training, and has overseen the development, acquisition and financing of several communities.)
PIQUA – A former Chevrolet facility has been purchased and is scheduled to be transformed into the RUSO Business Center. Local investors have purchased the 10 acre site at Exit 83 in Piqua to create a premier business park that will include a fully renovated 14,000 SF showroom facility for offices or retail as well as a 36,000 SF industrial facility that will accommodate automotive, trucking and light industrial.
Thom Baker and his sons Adam and Matthew Baker of ATM Investments, LLC purchased the property. Thom Baker is a local entrepreneur who has operated Wappoo Wood Products in Sidney for over 34 years. This location at 8654 N. County Road 25A is adjacent to I-75; this along with the numerous amenities the facility has to offer is what convinced Baker to acquire the former dealership. He felt this was the right time to invest in the local economy. “This is a chance to help attract employment to the area and we felt this was great location to do that,” added Baker.
Tim Echemann of Industrial Property Brokers represented the seller in this transaction and will continue to market the property for lease. “Piqua is fortunate to have local entrepreneur’s that are willing to take the risk to purchase vacant facilities and turn them back into income producing properties. We have a high level of interest in leasing the property now that a new owner is in place,” commented Echemann.
Industrial Property Brokers is a premier full service real estate company offering sales, leasing, investment analysis, tenant representation, and property management throughout Western Ohio and Eastern Indiana. The company is located at 213 N. Ohio Ave., Sidney, Ohio. For more information visit www.industrialproperty.biz or call 937-492-4423.
COLUMBUS – According to Connect Ohio’s recently published report, Making Government Accessible: e-Government Usage in Ohio, nearly 3.6 million adults (47% of adult Internet users in the state) go online to do business with government offices. More than one in three Ohio Internet users (38%) go online to search for information about government services, while 31% use the Internet to apply for government services or fill out forms at government websites.
“With a large amount of government services quickly transitioning to online formats, it is encouraging to see a growing number of Ohio Internet users utilizing them,” said Stu Johnson, executive director of Connect Ohio. “Unfortunately many Ohioans are excluded from these services due to lack of available broadband services or adequate digital skills, with concentration in the most vulnerable populations that these services are intended to serve. To keep pace with the twenty-first century, it is important to ensure that all Ohioans have the skills and access to equipment in order to take advantage of these services.”
E-Government usage increases among Internet users who are veterans (52%) and adults with disabilities (51%). Altogether, this represents approximately 385,000 veterans across the state and nearly 630,000 Ohio adults with disabilities who rely on the Internet to find information and interact with the government agencies that help them on a daily basis.
Online services will only help those Ohioans who have the skills and capabilities to access broadband, yet more than 1.2 million households in Ohio still do not subscribe to home broadband. This will need to increase as a growing number of government services are becoming accessible primarily (or solely) online. Ohio ranked 23rd on its e-Government offerings (2008 Brookings Institute report), suggesting that the state has room for improvement in its online offerings.
Additional key findings from this report include:
· Over one-half of adult Ohio Internet users who have attended or graduated college (54%) say they go online to access e-Government applications, compared to only 34% of those with no college education.
· Over one-half who report annual household incomes of $50,000 or more say they access e-Government services, which is higher than all other state income groups.
· Younger Internet users in Ohio (50% of 18-34 year olds) are more likely than their older peers (46% of ages 35 or older) to go online to search for information, apply for services, or fill out forms.
· Across the state, more than 1.2 million households still do not subscribe to home broadband service, one in eight cite lack of digital skills as leading barrier to home broadband subscription.
Connect Ohio revealed its latest research paper during the state Technology Association Meeting on July 25 in Columbus. The meeting focused on discussions around e-Government services from industry professionals from OhioMeansJobs, Ohio Business Gateway, and Ohio Benefits. (View the meeting presentation here)
BY STEPHANIE GROVES
Business Journal Writer
In 2013, the West Central Ohio Manufacturing Consortium (WCOMC) - including Rhodes State College and the Northwest Ohio Manufacturing Extension Partnership - conducted a regional survey of manufacturers, which gave a snapshot of manufacturers’ skill and education requirements, skill gaps and hiring projections.
The survey included 52 companies representing 56 facilities in 12 counties of West Central Ohio. The manufacturers employ over 18,000 and combine for $11 billion in annual sales.
The survey identified detailed skill sets, educational requirements and employment needs for replacement and incumbent workers and consisted of 154 questions on skills and education requirements that were needed within the industry as it prepares a competent workforce.
The 2013 Survey found problems at the Basic skill level including the “soft” skills of punctuality, completing tasks on time, following directions and procedures and internal written and verbal communications.
Problems in Computerized Numeric Control (CNC) and Programable Logic Control (PLC) interfacing and programming; evaluating and managing personnel; working with word processing, spreadsheet, database software; team leadership; and the facilitation of team meetings appeared in the Intermediate skill level.
At the Advanced skill level, the survey indicated issues with external verbal and written communication; maintaining buget control; performing cost-benefit analysis; diagnosing malfunctions; troubleshooting and repairing equipment; computer networking and programming.
Specific findings of the 2013 survey included:
• The percentage of Advanced skilled workers increased from 17 percent in 2007 to 21 percent in 2013;
• The percentage of Basic skilled workers in the 2004 survey (50 percent) were much lower than in 2007 (64 percent) and 2013 (63 percent); · Average starting wage at Basic skill level is $1 per hour higher than in 2007, but the average wage declined from 2007 by 50 cents per hour;
• Largest increase in number of skills “preferred” or “required” were reported at Basic level;
• Percentage of manufacturers planning to hire increased in all three skill levels and the total number of projected hirings were lower than in 2007, and;
• Difficulty in finding Basic skilled workers showed largest increase among manufacturers surveyed; and
• Percentage of interest in co-ops and internships doubled from 2007 survey.
The 2009 survey focused on developing a skilled workforce specifically for process operations.
In 2007, the survey indicated Basic, Intermediate and Advanced skill levels were trending and the challenge for manufacturers was to continue promoting future workers up a career pathway.
Survey results in 2004 showed that manufacturers in the region needed to employ workers with high-technology skills who were able to work in an advanced manufacturing environment in order to compete nationally and globally.
BY ED GEBERT
Business Journal Writer
PAULDING — In northwest Ohio, Paulding county boasts a population of 19,254 on just over 416 square miles. That averages 47.1 persons per square mile. Of that land, 87.8 percent is used as cropland with another 7.6 percent in forest. Much of the land was once a part of the Great Black Swamp which covered most of northwestern Ohio nearly two centuries ago.
The county seat is Paulding, with a population of 3,544. Also within the county is the Village of Antwerp, with a population 1,712, and the Village of Payne with 1,172.Smaller communities include Briceton, Latty, Melrose, Haviland, Oakwood, Scott, Broughton, Cecil, and Grover Hill.
The working population of Paulding County is willing to drive a distance to work. The mean driving time to work is 23 minutes. The total civilian work force is around 9.500 with 500 unemployed for a unemployment rate of 5.2 percent as of July 2014.
There were 346 active businesses in Paulding County, including 27 business starts to last year. Major employers in the county include Alex Products, Cooper Farms, H.E. Orr Co., LaFarge, Paulding County Hospital, Paudling Exempted Village Schools, Spartech Corp., Tem-Pace/Paragon Tempered Glass, and Wayne Trace Local Schools. The state lists 105 good-producing establishments in the county with an average of 1,859 employees at an average wage of $727 per week. Serving-providing industries number 214 with employment averaging 1,762 workers at an average wage of $491 per week.
Paulding County is also home to two industrial wind farms. Timber Road Wind Farm, owned by EDP Renewables, contains 55 wind turbines which can produce a total of 99 megawatts. The Blue Creek Wind Farm, owned by Iberdrola Renewables, is split between Paulding County and Van Wert County with 175 total wind turbines producing up to 350 megawatts of power. In addition, a few private firms have erected wind turbines to cut overall power costs.
Traditional farming is big business in Paulding County. Around 680 farms take about 22,878 acres with total cash receipts at $187.1 million, the majority of those receipts (nearly $1.03 million) comes from raising crops. Another $84.2 million is collected for lifestock and other ag products.
Paulding County was the first county in the United States to receive funding from Andrew Carnegie to build a library. Carnegie also matched funds to purchase a pipe organ in the Paulding Methodist Church. The county has four buildings listed on the National Register of Historic Places: The Paulding County Carnegie Library, the Paulding County Courthouse, the depot on the Norfolk and Western Railway in Antwerp, and a round barn on Emerald Township Rd. 168 northest of Paulding.
School districts in Paulding County are Paulding Exempted Village Schools, Wayne Trace Local Schools, and Antwerp Local Schools. A career-tech center, Vantage Career Center also educates high school juniors and seniors and offers adult education courses as well.
Throughout the county there are 10 public school buildings in use with a total enrollment of 3,126 students and approximately 210 (full-time equivalent) teachers. There is one major main library plus three library branches. Nearly 88 percent of all county residents age 25 and older have a high school diploma. Another 12.5 percent have a Bachelor’s degree or higher. There are 1,523 persons in the county who are U.S. veterans.
Housing is mostly stable in Paulding County. The homeownership rate is near 80 percent, compared to just 68 percent across Ohio. Of the nearly 8,700 housing units in the county, only 7.7 percent are in multi-unit structures. Almost 90 percent of residents have lived in the same house for one year or more.The median value of all housing units is $92,100. The median household income is slightly over $44,000 annually, and 14 percent of the people live below the poverty line.
I’m all Apple all the time. Since 1984.
So far, Apple and Steve Jobs have changed the way computers run, revolutionized the mobile phone, and revolutionized the way music is distributed to a point that all retailers, distributors, manufacturers, producers, music groups, and recording artists are totally dependent on Apple for a sizeable share of their revenue.
The iPod, and all versions of their music players, phones, laptops, and anything that plays music uses iTunes as a playing medium AND a purchasing medium. WOW.
Oh, there are still DVDs and other forms of distribution, but Apple rules. And Apple makes the rules. They have completely changed the game and the process. The world, accepted it, bought it by the billions, and LOVES it.
Their iPod competition has utterly failed. Got Zune? Not only was it a billion dollar failure, it was a joke. The iPhone started another revolution. And that’s a story for another day.
Today is iPad day. Or should I say “book replacement” day. The iPad is so revolutionary that no one even saw it coming. They didn’t know what to do with it – or could have predicted the changes it would inspire.
Capitalizing on the growing demand for e-books, the exploding app market, e-reader popularity, and the global appetite for cool products, Apple went to market having no idea what an explosion of creativity they were unleashing.
Remember this ditty? No more homework, no more books, no more teacher’s dirty looks!
Well, some of it is about to come true. The homework will still be there, the teachers will still be there, their dirty looks will (unfortunately) still be there, but the books are fading fast.
Remember your first day of school every year? “Issuing books” was a major part of the day. Signing for them, writing your name and grade in them, putting them in your book bag, and then dragging them back and forth to class, to home, and back to school all year. (Not to mention losing them and dropping them in a puddle of water.)
Well, those days aren’t completely over yet, but the iPad is beginning to idle printing presses globally. And soon, like the Yellow Pages, newspapers, and magazines, the majority of printed media will only be available online as a download or from some ASP.
REALITY: Everyone on the planet is looking for ways to improve education. The iPad will lead the revolution. It will provide 21st century learning and make it FUN (and might even eliminate some of the teacher’s dirty looks).
What kid wants eight textbooks when they could have an iPad? NOBODY ON
THE PLANET. Less money, no hassle,
completely searchable, underline-able, note-take-able, and FUN.
Our three-year old daughter Gabrielle dominates one of our iPads. She