Gold Medal Products' acquisition of the former Heidelberg Distributing Co. facility in Cincinnati for nearly $14 million was a significant expansion of the company’s manufacturing presence in the region. The purchase of 195,700 square feet of warehouse space at 10975 Medallion Drive earned the company a 2025 CoStar Impact Award for sale/acquisition of the year for the Cincinnati/Dayton market, as judged by real estate professionals familiar with the market.
The building sits on 14 acres at Evendale Business Park. The company, already one of Cincinnati’s biggest manufacturers, will be able to expand its operations, especially its fabrication of popcorn machines. Gold Medal Products sought to expand and consolidate its Loveland warehouse closer to Sharonville.
The seller, Heidelberg Distributing, has consolidated its operations to a Dayton-area facility.
About the deal: Gold Medal Products bought 195,700 square feet of warehouse space in the Evendale Business Park for $13.98 million. The deal closed Feb. 29, 2024, and it was the second-largest industrial deal in the Greater Cincinnati area during the first quarter of the year.
What the judges said: "Gold Medal Products adding 10975 Medallion to their facilities in Sharonville is a huge win. After being acquired in 2022, Heidelberg shrank their real estate portfolio across Cincinnati to just one building. Gold Medal Products being a local company is a huge win as the group is backfilling another regional player, adding pride of ownership and keeping jobs in Sharonville. Additionally, being able to acquire and occupy the 2001-built space at $71 per square foot will pay off long-term for the ownership, providing a great location and quality building below replacement cost," said Andrew Hannah, asset and acquisitions manager for Flex Real Estate.
They made it happen: Jeff Wolf, president of Wolf & Partners Real Estate; Tim Schenke, executive vice president at CBRE; Joe Kimener, first vice president at CBRE; and Philip Pelok, executive vice president at CBRE.