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Medline Relocating, Expanding Within Opus Biz Center

GROVEPORT, OH-The privately held manufacturer and distributor of healthcare supplies and services is vacating a 160,000-sf warehouse in favor of 260,000 sf in a 377,000-sf building.

By Brian K. Miller | Updated on May 03, 2005

GROVEPORT, OH-Medline Industries is expanding and relocating within the Opus Business Center here. The privately held manufacturer and distributor of healthcare supplies and services is moving from 160,000 sf in Rickenbacker-Building II to about 260,000 sf in Rickenbacker-Building IV. Opus Rickenbacker-Building IV is a new 377,283-sf building located south of Interstate 270 just off Alum Creek Drive. Medline is scheduled to move in August 2005. Terms of the deal were not released by the parties involved and not otherwise immediately available. Triple net asking rates for space in the park are $0.27 per sf per month.Michael Hurd and Bill Frain of CB Richard Ellis represented Medline, and Michael Mullady of CB Richard Ellis represented Opus North. Opus North’s director of real estate Andy Weeks tells GlobeSt.com that Opus North owns 100% of Building IV and is one of several investors in a fund that owns Building II.Both buildings are located in a foreign trade zone. Weeks says the benefits of the zone include abatement of Ohio’s inventory taxes and the reduction, abatement and deferment of US customs tariffs, duties and quotas.Industrial vacancy in the submarket is pegged at about 17.5%, according to CB Richard Ellis, but Weeks says much of that space is older and functionally obsolete. “The market is a lot healthier than that,” he says. “There are very few big vacant spaces available.”Opus has developed approximately 1.9 million sf at the 215-acre Opus Business Center and sold off most of it. Its design-build projects there have included distribution facilities for Xerox, Cardinal Health, Deal$ Nothing Over a Dollar and Exel Logistics.

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