UPS buys 65-acre parcel in Middleburg Heights, in $7.55 million deal for rare undeveloped tract

[cheryl]

UPS buys 65-acre parcel in Middleburg Heights, Ohio, in $7.55 million deal for rare undeveloped tract - Cleveland.com

United Parcel Service, Inc., has purchased 65 acres of former farmland in Middleburg Heights, snapping up a rare undeveloped property of that size in Cuyahoga County during a busy season for the industrial real estate market.

The publicly traded package-delivery titan paid $7.55 million last month for the land at 6678 Engle Road, according to public records. The property sits just north of UPS's Middleburg Heights small-package hub, located on Englewood Drive, and a stone's throw from international freight operations and other UPS facilities.

A spokeswoman said the company doesn't have a project planned for the site.

 

[UpstateNYUPSer(Ret)]

Sounds like this move may have been made less for future expansion and more for keeping their competitors away from that area.

 

[badpal]

That's one old farmers widow who came out good.

 

[Indecisi0n]

We bought it but arent sure what we want to do with it. Yup, that's UPS.

 

[Catatonic]

Sounds like this move may have been made less for future expansion and more for keeping their competitors away from that area.

I worked with UPS Real Estate for a year and a half.
UPS often buys land as an investment.
UPS has made hundreds of millions off buying and selling properties.
Here in Atlanta, UPS sold land on which FedEx built a hub.

 

[silenze]

I worked with UPS Real Estate for a year and a half.
UPS often buys land as an investment.
UPS has made hundreds of millions off buying and selling properties.
Here in Atlanta, UPS sold land on which FedEx built a hub.

Genius.
we have extra land that they wont pave at the hub so we have to rent two extra off site parking lots.. Yep

 

[UpstateNYUPSer(Ret)]

I worked with UPS Real Estate for a year and a half.
UPS often buys land as an investment.
UPS has made hundreds of millions off buying and selling properties.
Here in Atlanta, UPS sold land on which FedEx built a hub.

When they purchased the property that our local facility was built on they planned ahead by buying more land than was initially needed. Turns out it was a smart move as we have already outgrown our new digs.

When I read the headline for this thread I immediately thought that we made the purchase to hinder any further expansion by Amazon in that area.

 

[TearsInRain]

We bought it but arent sure what we want to do with it. Yup, that's UPS.

that's how good real estate buys work

land always comes in handy later, either as a lease or development

 

[TearsInRain]

When they purchased the property that our local facility was built on they planned ahead by buying more land than was initially needed. Turns out it was a smart move as we have already outgrown our new digs.

When I read the headline for this thread I immediately thought that we made the purchase to hinder any further expansion by Amazon in that area.

good idea, it could also be a sister site for the nearby hub for us to use while we install automation

 

[UpstateNYUPSer(Ret)]

good idea, it could also be a sister site for the nearby hub for us to use while we install automation

From what I have been told it is an L shaped piece of property. We are currently using the vertical portion, which is perpendicular to the road, and would use the horizontal portion, which runs parallel, if we do expand in the future.

 

[moreluck]

If I remember, Middleburg Heights is a big feeder area already

 

[bbsam]

Seems like they are overpaying to me.

 

[BakerMayfield2018]

Seems like they are overpaying to me.

That's a lotta land tho....

 

[BakerMayfield2018]

If I remember, Middleburg Heights is a big feeder area already

Correct

 

[UpstateNYUPSer(Ret)]

Seems like they are overpaying to me.

$116,154 per acre does sound expensive.

 

[Indecisi0n]

Maybe they want to empty their bank accounts a little so they can cry poor come contract negotiations.

 

[NerdGirl]

Trees are gone and still coming down. I wonder what the plan is?

 

[UpstateNYUPSer(Ret)]

Trees are gone and still coming down. I wonder what the plan is?

I imagine they will start building in the spring.

 

[trickpony1]

I imagine they will start building in the spring.

Will you be in charge and oversee the operation?

 

[oldngray]

UPS has always seen land as a good investment. Some of it they may use for future expansions and some of the rest they can end up selling for a profit if they decide they don't need it.