Cincinnati-based firm buys for

The top executive for a real estate, property management and construction firm based in suburban Cincinnati has set his sights on Dayton.

Replica Gucci 3905 Daniel L. Wheeler, president of Springdale-based Target Management and Leasing, acquired the former Mazer Corp. campus at 6680 Poe Ave. in Vandalia for $780,000. The deal closed Monday, May 24, according to records from the Montgomery County auditor's office.

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Wheeler said the nearly five-acre property includes two Class B office buildings totaling about 90,000 square feet.

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Wheeler bought the land and two buildings from ABMD Ltd., a Longwood, Fla.-based entity, according to county records.

The Mazer property has an assessed value of $4.16 million, according to county records. But Wheeler in an interview Friday, May 28, said the total cost included the $660,000 purchase price and payment of back taxes owed by a previous owner.

A Dayton native, Wheeler said he wants to amass a commercial portfolio worth up to $20 million in the local market. Plans call for his company to Jimmy choo buy up to 400,000 square feet of commercial space over the next 12 to 18 months, including at least one and maybe two buildings in downtown Dayton, he said. He also expects to open a property management operation in the area, he said.

In the case of the Vandalia property, he plans to remodel the buildings' lobbies and upgrade the mechanical systems, along with some other minor improvements.

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"The space already is in good shape," he said.

Rich Hopkins, a city spokesman, said Vandalia officials were pleased the building was being put back into use.

Wheeler's companies specialize in buying vacant or distressed properties, making any necessary improvements and filling them back up with tenants, he said. Target has 1.1 million square feet in the Cincinnati area.

Mazer, a textbook publisher and printing company, shuttered its operations suddenly in late 2008.

Staff writer Tim Tresslar covers commercial Jimmy choo and residential real estate for Dayton Daily News. His Real Estate Notebook appears every Sunday. He can be reached at (937) 225-7317 or via e-mail at .

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