IMMEDIATE RELEASE:
June 14, 2024
New River Electrical Announces Sale of Westerville Property
GRANVILLE, OHIO—New River Electrical announced today the sale of its Westerville, OH, campus to OMCO Properties LLC. The sale closed on June 7, 2024, at a purchase price of $9,000,000.00.
This ends a 32-year tenure for New River Electrical in Westerville. Though we are moving operations to Granville, OH, New River Electrical is committed to supporting Columbus and central Ohio in the same first-class manner we’ve performed over the past 71 years.
Upon completion of the sale, Laura L. Volpini, Chief Legal Officer of New River Electrical, stated, “The sale of New River’s Westerville campus marks another critical step in the Company’s growth trajectory, which started with the purchase of the magnificent 96,000 sf building in Granville, Ohio, in May of 2022, the renovation and relocation of our Westerville regional headquarters to the Granville building in December 2023, and will end with the completion of the construction of our Maintenance and Operations facilities on the 30 acres located behind the Granville building expected to be completed in mid-2025. This series of real estate expansion, development, and investment/re-investment activities allow New River to provide industry-leading facilities for our Operations and Construction Support groups in Granville, benefiting our employee-owners, customers, and the communities we live and serve.”
With the sale complete, the relocation of our Operations facilities begins. New River Electrical will continue to occupy the Westerville Fleet Garage. At the same time, Operations will temporarily move to a facility in Newark, OH, until the construction of the Granville Maintenance and Operations buildings is complete in 2025.
For more information:
John Vehmeier
New River Electrical Corporation
jvehmeier(at)nrec.net
540.966.1650
