Oct. 25–Miller-Valentine Group has sold the building housing its Dayton headquarters, the Barclay building, 137 N. Main St., to a hotel developer, Miller Valentine's Dayton market president confirmed Thursday.
The building sold Wednesday for $750,000 to First Barclay LLC, according to Montgomery County property records. First Barclay's mailing address is the same as hotel developer First Hospitality Group, in Rosemont, Illinois.
The 10-story building is anchored by Miller-Valentine Group, which has brokerage and construction services.
The sale of the Barclay building closely follows the opening of downtown Dayton's first new hotel in more than four decades.
The 98-room Fairfield Inn & Suites by Marriott opened earlier in October as part of the Water Street District.
In a statement, Miller-Valentine said the buyer is First Barclay, LLC, a joint project between Columbus-based Lawyers Development Corp. and Chicago-based First Hospitality Group — and the joint venture plans to convert the property to a "branded boutique hotel."
Dave Dickerson, president of Miller-Valentine's Dayton construction sales and development, said his company was approached by Lawyers Development, and "immediately saw that the planned redevelopment approach offered a terrific opportunity for the entire community."
"It is hard to leave this building, it has served us well, but it was important to us that something exciting and impacting be done with this space," Dickerson said in a release from Miller-Valentine. "We believe its next life will be the highest and best use for this property."
Lawyers Development and FHG first partnered in developing the 149-room boutique Hotel LeVeque, the hospitality component of the mixed-use redevelopment of the Art Deco-era LeVeque Tower in downtown Columbus.
