NAIOP Praises Dermody for Wayfair Dev.

CINCINNATI—A difficult topography has made this city’s North Kentucky submarket a challenging area to launch major industrial projects, but after its vacancy rate plunged to a historic low and the rise of e-commerce made the centrally-located region even more desirable, several top developers recently decided to break ground on a few big distribution buildings. And the local chapter of NAIOP has picked the new fulfillment center in Hebron developed by Dermody Properties and Hillwood Investment Properties for Wayfair Inc., one of the most significant of these new projects, as its Industrial Deal of the Year.

The 898,560 square foot facility, known as LogistiCenterSM at 275, was recently recognized at the organization’s annual Night of the Stars awards, where the chapter honors developers and projects that have made significant impacts on the community. The partners broke ground at the site adjacent to the Cincinnati/Northern Kentucky International Airport in October. Dermody and Hillwood leased the 52-acre site from CVG earlier this year.