FedEx Floor distribution heart in Bowling Inexperienced. Picture courtesy of Kingsbarn Realty Capital
Kingsbarn Realty Capital has bought an roughly 250,000-square-foot FedEx Floor distribution heart in Bowling Inexperienced, Ohio, close to Toledo. The brand new proprietor will use the property as an funding in its Delaware Statutory Belief program and plans to supply it as a 1031-exchange alternative asset.
The brand new proprietor’s CEO, Jeff Pori, famous that in this financial difficult interval, traders are in search of high-quality industrial belongings occupied by top-companies. In line with the Sentinel-Tribune, Scannell Properties is the vendor and developer of the power.
The property is a build-to-suit undertaking located inside Woodbridge Enterprise Park, an industrial undertaking developed by Bowling Inexperienced Financial Growth, alongside Interstate 75 and 20 miles from CSZ Intermodal, with its second part of development at the moment underway.
The commercial facility is leased for 15 years by FedEx Floor and consists of 32-foot clear heights, 10 grade-level doorways, 73 truck docks and a 120-foot truck court docket. The brand new distribution heart is located on a 49-acre lot, east of the Interstate 75 interchange, near Bowling Inexperienced State College and Wooden County Regional Airport, 15 miles from Perrysburg, Ohio, and 22 miles from Toledo, Ohio.
Notable industrial initiatives in Ohio
Earlier this 12 months, NorthPoint Growth opened a 625,000-square-foot distribution heart in Union, Ohio, close to Dayton Worldwide Airport. The property is operated and occupied by Legrand.
One of many state’s largest ongoing industrial developments is Honda Motor Co. and LG Power Answer’s $3.5 billion battery plant in Fayette County. The brand new manufacturing facility is anticipated to be accomplished by the top of 2024 and to create some 2,200 new jobs.
