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CT Realty has purchased 382 acres of industrial land in Columbus, for the development of 5.7 million square feet of large scale warehouse and distribution space. The transaction is a joint venture with Walton Street Capital, a Chicago-based private equity real estate investment firm that has invested over $11 billion in real estate equity.

Terms of the sale were undisclosed.

The eight-building project is within the Rickenbacker Industrial Park and in immediate proximity to a Norfolk Southern intermodal yard and the Rickenbacker International Airport,

The first phase of development should begin in the first quarter of 2020 and consist of two buildings, totaling 1,146,780 square feet. A completion date in early 2021 is planned for these buildings.

CT Realty is a nationwide industrial real estate investment and development company focused on logistics and e-commerce solutions for corporate America. It has offices in Newport Beach, California and Dallas.