19 Dec Clear Height Properties Acquires 290,573 SF Industrial/Warehouse Distribution Facility in Columbus Ohio
A joint venture partnership between Oak Brook, Illinois-based real estate investor Clear Height Properties and Brookfield, Wisconsin-based MLG Capital has acquired a 290,573 square-foot infill industrial building located at 1675 Watkins Road in Columbus, Ohio. The acquisition is the first in Ohio for Clear Height.
The soon-to-be-fully-renovated building is available for lease and strategically located on the southeast side of Columbus, within the Watkins Road Industrial Park, adjacent to Norfolk Southern Discovery intermodal yard, and near Rickenbacker air cargo airport. The property is 22’5 clear and equipped with 34 docks and 3 drive in doors.
Tenant demand remains strong in the Central Ohio region with sub 3% vacancy.
“We’re actively looking to expand our footprint across the Midwest,” said Ryan Maher, Director of Acquisitions, Clear Height Properties. “The strong market fundamentals, accompanied by Intel’s $20B commitment to build new chipmaking facilities and Honda/LG’s $4.2B announcement for rehabbing existing facilities and building new electric vehicle hubs, are only a few of the reasons we’re excited to expand our presence into Ohio.”
“We are bullish on the Columbus market and excited at the opportunity that this property presents given it’s unique value-proposition for tenants,” said Gary Rose, COO and President of Clear Height Properties. “Leasing efforts have already commenced, and our capital improvement program will be kicking off shortly.”
Dan Wendorf of JLL represented the seller Garrison Investment Group. Nick Tomasone and Joe Davis, also of JLL, represented Clear Height.