GROVEPORT, OH - Chicago-based Stotan Industrial and its joint venture partners LaSalle Investment Management and CA Industrial have acquired a 47.58-acre land site on Hayes Rd. in Groveport, OH, near Columbus, from Sunshine and Smooch LLC. The JV plans to build a speculative 640,640-square-foot, Class A single cross dock facility.

“Scarcity of product with close proximity to I-275 and a 15-year, 100% tax abatement made this an attractive opportunity for the joint venture,” said Stotan founder and managing partner Jim McGill. “Columbus continues to emerge as the Midwest’s most active and deepest distribution market with unrivaled market fundamentals. We are looking forward to building our portfolio in this area.”  

The new facility will be less than one mile from Rickenbacker International Airport and offer direct access to Route 33 as well as the Interstate Highway System. CBRE’s Rick Trott, who represented Stotan on the purchase, has been retained as the leasing agent.

By: Paul Bubny

Chicago & Midwest + Midwest + Industrial

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