COLUMBUS—As reported in GlobeSt.com, Hillwood, a Perot company, recently made several important acquisitions of industrial property in key Midwest markets. And it just acquired TradePort I, a soon-to-be completed distribution center totaling 1,020,255 square feet in Columbus.
It's the firm's fourth acquisition here, and that level of interest is not surprising. Although Columbus was once known primarily as an office center, the burgeoning need for distribution centers has made the metro area into one of the most prominent distribution corridors in the country.
“From a logistical standpoint, it's a great location,” Don Schoenheider, senior vice president and Midwest market leader, tells GlobeSt.com. “Our clients tell us that they can reach one-third of the country in a day's drive,” including the all-important East Coast. Furthermore, both Columbus and Central OH “are very aggressive when it comes to incentives,” such as tax abatements, and that makes the cost of occupancy very favorable when compared to other Midwest markets. Other investors have noticed.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
