Kosei, a North American distributor of aluminum wheels to the original equipment manufacturer market and after-market, leased 48,000 square feet of space in a roughly 139,000-square-foot speculative industrial building in West Chester Township.
Kosei will move into the last available space at 7401 Union Centre Blvd. The building, Port Union E, was developed by Becknell Industrial, a privately held real estate firm specializing in the development, management and ownership of industrial properties nationwide.
“This location provides them with excellent visibility in space designed to accommodate their growth,” Katrina Cupp, assistant vice president of Investments for Becknell, said in a news release.
Becknell owns three buildings in the Cincinnati market and is pursuing additional build-to-suit and speculative development opportunities and acquisitions.
Tony Sorgi, senior consultant of Plante Moran Cresa, represented Kosei in the deal. Jeremy Kraus, vice president with CBRE in Cincinnati, represented Becknell.
Polymet Corp. signed a long-term lease for nearly 91,000 square feet of space in the Port Union E building at the end of 2016. The Kosei lease fills the remainder of the building.
Kraus said he expects demand for industrial space to remain strong in 2017. The Greater Cincinnati industrial market ended 2016 with record net absorption of more than 5.3 million square feet, the most since 2005, according to CBRE research.
Founded in 1950, Kosei’s customers include Toyota Motor Corp. and Honda Motor Co. Ltd. Becknell owns interests in 147 properties totaling about 18 million square feet.