REBusinessOnline

Center Square Leases 33,000 SF Warehouse in Columbus, Plans Redevelopment

COLUMBUS, OHIO — Center Square, a company specializing in community events and entertainment centers, has leased a 33,000-square-foot warehouse at 225 Neilston St. in the historic Warehouse District of Columbus. The company plans to transform the building into The Kee, a community center with an indoor-outdoor event venue and a restaurant and bar. The landlord, Hackman Capital Partners, owns the majority of the real estate in the Warehouse District. Clayton Davis and Alex Ashworth of JLL …

Time Equities Acquires Three Industrial Buildings Totaling 526,019 SF in Wilmington, Ohio

WILMINGTON, OHIO — Time Equities Inc. (TEI) has acquired three industrial buildings totaling 526,019 square feet in Wilmington, which is located midway between Cincinnati and Columbus. Located along Progress Way, the buildings are fully occupied by PC Connection, DealerTrack and New Sabina Industries. Max Pastor and Brian Soto of TEI led the acquisition. Michael Sullivan of Cushman & Wakefield represented the undisclosed

Upstart Signs 240,000 SF Office Sublease in Columbus, Ohio

COLUMBUS, OHIO — Artificial intelligence lending platform Upstart has signed a sublease for 240,000 square feet of Class A office space at 3075 Loyalty Circle in the Easton neighborhood of Columbus. The lease is in addition to a recent 54,000-square-foot expansion by Upstart at 711 N. High St. in the Short North neighborhood of Columbus. Through its expansion, Upstart plans to create an additional 500 jobs. The new spaces feature a combination of open offices, breakout rooms and collaboration …

Kroger, Ocado Announce Five New Customer Fulfillment Centers Around the Country

CINCINNATI — The Kroger Co. (NYSE: KR), the largest grocery store chain in the country, has announced five new customer fulfillment centers (CFCs) that the company will operate along with UK-based delivery logistics partner Ocado Group. The new Kroger Delivery facilities include a distribution center in the Northeast, as well as two centers in Southern California and a pair of facilities in South Florida.The vertically integrated CFCs will utilize machine learning and robotics and serve …

Stotan Industrial Unveils Plans to Develop 640,640 SF Spec Facility in Suburban Columbus

GROVEPORT, OHIO — Chicago-based Stotan Industrial and its joint venture partners LaSalle Investment Management and CA Industrial have acquired a 47-acre site in Groveport with plans to build a 640,640-square-foot speculative facility. The partnership acquired the land on Hayes Road from Sunshine and Smooch LLC. Development plans call for 60 dock doors, 154 trailer spots, 310 car parking spots and a clear height of 36 feet. CBRE’s Rick Trott represented Stotan in the land purchase and has …

Scannell Properties Breaks Ground on 354,000 SF Spec Warehouse Near Columbus

NEW ALBANY, OHIO — Scannell Properties has broken ground on a 354,000-square-foot speculative warehouse in New Albany, about 15 miles northeast of Columbus. The developer purchased a 33-acre site on Innovation Campus Way. Completion of the project is slated for June 2022. Tom Miles and Scott Pickett of Avison Young represented Scannell in the land purchase. The duo will also handle leasing efforts for the property. MBJ Holdings was the

Main Street Community Capital Unveils $1.3B Mixed-Use Destination Plans in Metro Cincinnati

MIDDLETOWN, OHIO — Main Street Community Capital has unveiled plans for Hollywoodland, a 50-acre mixed-use development along the Great Miami River in Middletown. The city, which boasted a population of about 50,000 residents as of the 2020 census, is located 25 miles southwest of Dayton and 30 miles northeast of Cincinnati. Development costs for the project are estimated at $1.3 billion.The Middletown City Council met for over six hours this week to discuss the project with the public. …

Greystone Funds $50.1M Bridge Loan for Acquisition of Six-Property Skilled Nursing Portfolio in Ohio

OHIO — Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The communities total 719 beds and are located in Berea, Cleveland, Clyde, Kent and Waterville. Fred Levine of Greystone originated the floating-rate, interest-only loan through Greystone’s nonrecourse bridge loan program. Greystone says it will work with the borrower to secure a permanent HUD-insured loan for the skilled nursing portfolio as soon as possible. …

Gabe’s to Build $77.5M Distribution Center in Springfield, Ohio

SPRINGFIELD, OHIO — Gabriel Brothers Inc. (Gabe’s) has unveiled plans to open an 850,000-square-foot distribution center in Springfield, about 45 miles west of Columbus. Located at 1801 Prime Parkway within the PrimeOhioII Industrial Park, the $77.5 million project will be the company’s largest distribution center. Construction at the 114-acre site is set to begin in mid-October. The facility is expected to open in February 2023.The project will create more than 800 full-time and …

Colliers Brokers Sale of 2.4 MSF Industrial Portfolio Across Three Markets

CHICAGO, CINCINNATI AND MEMPHIS, TENN. — Colliers International has brokered the sale of a four-building industrial portfolio spanning 2.4 million square feet for approximately $200 million. The Class A assets are located in the Chicago, Cincinnati and Memphis markets. Jeff Devine, Steve Disse, Tyler Ziebel and Alex Cantu of Colliers represented the seller, IDI Logistics. Canadian-based Granite REIT was the buyer.The Chicago-area property is located in Antioch, Ill. Constructed in 2015, …

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