Cincinnati, OH— Becknell Industrial, a company specialized in the development, investment and management of industrial properties across the U.S., recently announced that it has leased a portion of its warehouse building currently under construction in West Chester Township, a northern Cincinnati community. Polymet Corp., a manufacturer of high-performance wire for hard facing, welding and thermal spraying, will occupy 90,750 square feet of the 138,750-square-foot building, known as Port Union E. CBRE represented both the lender and the owner.
Located on Union Centre Boulevard, Port Union E has 28-foot clear height, ESFR sprinkler system, 130-foot truck court with 60-foot concrete apron and high efficiency building systems. The warehouse will also include 14 docks and two drive-in doors.
West Chester Township is in the southeastern corner of Ohio, about 18 miles north of downtown Cincinnati. The region provides easy access through three interstate highway systems (I-75, I-74, and I-71) and two interstate connectors (I-275 and I-471). Part of a master-planned industrial center, Port Union E is only 35 miles from Cincinnati and the Northern Kentucky International Airport.
“Our new facility will not only make our operations more efficient but will also facilitate future growth. Polymet has been in operation in the West Chester area for 50 years and we could not be more excited to celebrate with a new, bigger facility,” said Bill Mosier, president of Polymet Corp., in a prepared statement.
The remaining 48,000 square feet at Port Union E is currently available for lease. The park is being built on a 9-acre site and is scheduled for completion early next year.
According to CBRE research, 2016 is on pace to be a record-breaking year for the Cincinnati industrial market. The third quarter of this year closed with over 1.5 million square feet of positive net absorption and 3.3 million square feet of construction completions, 82 percent of which was speculative bulk warehouse.