Plymouth Industrial REIT Completes Acquisition of Ohio Industrial Portfolio for $94M

AKRON AND CANTON, OHIO — Plymouth Industrial REIT Inc. has closed on a previously announced acquisition of a portfolio of industrial buildings located in Akron and Canton for approximately $94 million. The 10 buildings total 2.1 million square feet. They are 98 percent leased to 15 tenants in a variety of industries, including transportation and logistics, healthcare, manufacturing and food and beverage. The acquisition brings Plymouth’s holdings in the Cleveland metro area to 3.6 million square feet and increases the size of its Ohio portfolio to 7.5 million square feet. The company will manage the portfolio from its Columbus regional office. With the completion of this transaction, Plymouth has acquired 5.5 million square feet of industrial properties year to date for total consideration of roughly $244 million. Plymouth now owns 23.3 million square feet of industrial product throughout the country.