Drake Manufacturing Building Sells for $1.2 Million
WARREN, Ohio – An industrial building in Champion Township that is home to Drake Manufacturing Inc. has sold for $1.2 million, according to records from the Trumbull County Auditor’s office.
Byan Investments LLC purchased the land and building at 4371 N. Leavitt Road from DMS Partners LLC on May 23, records show. According to the auditor’s office, the property is appraised at $700,000 for tax purposes.
DMS Partners purchased the building in 2007 for $900,000, records show.
Byan Investments, organized in Delaware, was registered as an Ohio entity in November 2021, according to the Ohio Secretary of State’s office. The company gives a Los Angeles location as its tax mailing address, auditor’s records show.
In 2017, Drake Manufacturing was acquired by CW North America, a subsidiary of China-based CW Bearing. The company manufactures precision CNC machine tools used for thread grinding.
Copyright 2023 The Business Journal, Youngstown, Ohio.