Becknell Industrial has completed the purchase of two distribution facilities built in 1997 totaling 537,705 square feet in Grove City, Ohio. Located in the southwest submarket of Columbus, the properties provide convenient access to Interstate 71 connecting them to distribution locations such as Cleveland, the greater Columbus market, Cincinnati, Louisville and Nashville.
The first property, 5701 North Meadows Drive, features 24′ clear height, 40′ x 40′ column spacing, 44 dock doors and four drive-in doors. Situated on 15.6 acres, the 268,905 square-foot building is fully leased to Pier 1 Imports and Express Point Technology Services, Inc.
The second property, 5900 North Meadows Drive, features 28′ clear height, 40′ x 40′ column spacing, 40 dock doors and two drive-in doors. Situated on 16.6 acres, the 268,800 square-foot building is fully leased to GPS Consumer Direct, Inc. (The Gap).
John Huguenard, SIOR, CCIM and Sean Devaney of Jones Lang LaSalle, along with Mike Spencer of Ruscilli Real Estate, represented the seller, California-based Transpacific Development Company.
“These modern, well-located buildings are a great addition to our portfolio and provided us the opportunity to expand our presence in the Columbus industrial market,” said Pete Anderson, Becknell’s Executive Vice President Investments. “The institutional ownership of these assets by TDC combined with the local expertise of Ruscilli from a leasing and property management perspective provided Becknell the confidence not only in the purchase of these buildings, but the overall market fundamentals in Columbus.”