Building that houses AK Steel sells for $25M

The four-story structure at 9227 Centre Pointe Drive in West Chester Twp., which is located on 6.86 acres just west of Interstate 75, sold May 4 for $25 million, according to Butler County Auditor’s Office records.

The property was sold by investment firm Franklin Street Properties to Cole OFC West Chester LLC, an affiliate of real estate investment trust company Vereit.

AK Steel is Butler County’s third-largest employer with a total of approximately 2,400 full-time employees in the region, both at its Middletown Works facility and at its corporate headquarters.

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The company moved its corporate headquarters from a 90-year-old Middletown facility to the 136,000-square-foot West Chester Twp. building in October 2007 with a 12-year term that has two five-year renewal options, according to U.S. Securities and Exchange Commission documents.

AK Steel’s long-term lease of the building transferred with the sale, according to company spokeswoman Lisa Jester.