CT Realty has expanded its nationwide logistics portfolio with the purchase of 382 acres of industrial land in Columbus, Ohio for the development of 5.7 million square feet of large scale warehouse and distribution space. Located in the largest and best-performing industrial submarket of Columbus, the eight-building project will benefit from outstanding proximity to excellent distribution infrastructure and a densely populated consumer base, both of which are key criteria for ecommerce users.
CT acquired the 382-acre property in 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. This investment highlights Walton’s commitment to a national industrial strategy and complements CT Realty’s nationwide investment objectives. Construction financing will be provided by Bank of America.
“Columbus is a superb market from which to reach over half of the U.S. population and one-third of Canadian residents in a single-day truck drive, making this an ideal distribution location for companies,” said Rob Huthnance, the CT partner responsible for Midwest and East Coast development and operations.
Terms of the sale were undisclosed. The transaction was represented by the Jones Lang LaSalle team of Brian Marsh and Dan Wendorf, who will also represent the project in leasing to national and local tenants.