Press Release from the Miller Diversified
The Miller Investment Fund is pleased to announce the acquisition of a new office property in Tiffin, Ohio.
Located at 2499 W. Market St. in Tiffin, this property includes office, retail and small storage space which totals 11,200 square feet. Since the building’s acquisition, the property has achieved 100% occupancy, boasting established tenants including H&R Block, ProMedica, the Pharmacy Counter and State Farm Insurance.
“The acquisition of the Tiffin building is another great addition to this diversified portfolio of properties.” said Kurt Miller, Fund Principal and CEO of Miller Diversified. “We continue to search for qualified properties across the expanded Midwest, and this property offered a superb opportunity for our investors.”
The property first came to the Miller team’s attention when a prospective tenant reached out to Miller Diversified’s brokerage team for representation. The President of Miller Diversified Realty and Fund Executive Advisor Tim Schlachter began to learn more about the building, and he saw a significant opportunity to improve upon the value of the property through acquisition and lease-up.
“I took the information to the Fund team, and we knew it would be a good fit,” Schlachter said. “We have a strong in-house property management team, so we knew if we could check all the boxes in the review process, we would be able to bring tenants to the building and make the improvements needed for this one to be a strong addition to the portfolio, which is exactly what we’ve done now.”
ABOUT THE MILLER INVESTMENT FUND
The Miller Investment Fund owns a diverse portfolio of commercial real estate. This open-ended real estate investment Fund allows investors to contribute either capital or buildings in exchange for units.
ABOUT TIFFIN, OHIO
The property is situated along Route 224, a stretch of road which leads right into the heart of Downtown Tiffin in just minutes. According to the City of Tiffin’s website, Tiffin consistently ranks in the top 10% of almost 600 similarly-sized communities nationally for economic development. It has ranked in the top 10 for economic development in this same group twice in four years, earned by its dedication to creating jobs, investing in economic development, and prioritizing city-wide improvements. Tiffin’s goal of constant improvement hasn’t wavered even in the context of a pandemic, as they announced the start of a riverfront development project, which will offer visitors a scenic walkway, providing easy access to nearby universities, restaurants, and shops.
GROWTH DURING A PANDEMIC
The Miller Investment Fund continues to meet growth goals thanks to the Fund’s selective and patient acquisitioning process. This growth persists in spite of the economic uncertainty created by the pandemic.
“The structure of the Fund is designed to yield steady growth over time,” said Miller Diversified Vice President and Fund Principal Jerry Miller. “Our company believes a steady and calculated approach is what brings reliable and lasting results."
Miller Diversified’s long history and strong background in the fundamentals of commercial real estate provides the essential ingredients for this real estate investment Fund. These factors, Jerry believes, are what sets the Fund apart from other investment opportunities.
“We carefully analyze each property before deciding it’s a candidate for the Fund,” Jerry said. “We put each potential property through a diligent review process, and as investors, we adhere closely to our fundamental goals and criterion.”
UP NEXT FOR THE FUND
The Miller Investment Fund is focused on continued growth, seeking qualified accredited investors and adding properties across an expanded geography. Investors can contribute buildings directly into the Fund in exchange for units, or elect instead to invest capital. For more information about the Fund, or to contact one of the Fund’s team members, visit millerinvestmentfund.com.
Miller Diversified is a family-owned company, offering a variety of real estate services, including development, construction, brokerage, property management, and a real estate investment fund. We have been in business since 1920 and our purpose is to respectfully build value and enrich lives across generations. For more information about Miller Diversified, please visit www.millerdiversified.com.
