Associated Bank Provides $27.5M Construction Loan for Spec Industrial Project in Groveport, Ohio

by Kristin Harlow

GROVEPORT, OHIO — Associated Bank has provided a $27.5 million loan for the construction of a 640,640-square-foot speculative industrial project in Groveport, a southern suburb of Columbus. The 47-acre site is located adjacent to Rickenbacker International Airport. The building will feature a clear height of 36 feet, 60 exterior docks, four drive-in doors, 185-foot truck courts and 154 trailer parking stalls. Completion is slated for this summer. The borrower, Groveport Venture LLC, is a partnership between CA Industrial Properties LLC, Stotan Industrial LLC and LaSalle Investment Management. Elizabeth Hozian, Evelyn Turner and Paul Henning of Associated Bank originated the loan, terms of which were not provided.

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