Cincy Ind. Market Continuing a Great Run

Buildings in the Port Union at Union Centre in West Chester can serve a wide swath of the US.

CINCINNATI—This metro area has become one of the hottest industrial markets in the nation, and throughout 2015 a host of developers have been hunting for spaces. And Becknell Industrial, a privately-held national firm that specializes in the development, management and long-term ownership of industrial properties, just became the latest to purchase land here for development. The company bought 9.1 acres located at the corner of Union Centre Blvd. and LeSaint Dr. in suburban West Chester from IDI Gazeley. CBRE Group, Inc. facilitated the sale.

The land is a part of Port Union at Union Centre, a master-planned park along Union Center Blvd. Becknell officials say they will develop a 138,750-square-foot spec building on the site, but will also consider a build-to-suit. They expect to begin construction in spring 2016.

“We are a big fan of the Greater Cincinnati industrial market as evidenced by our recent acquisitions in Forest Park and Lebanon,” says Pete Anderson, executive vice president, investments, at Becknell. “This new land acquisition in West Chester and our planned subsequent speculative development is all based around the strong fundamentals of low supply and increased demand in a very mature submarket.”