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Chicago & Midwest  + Midwest  + Industrial  |  January 21, 2021
Paul Bubny
By: Paul Bubny

Westmount Realty Divests FedEx-Leased Columbus Warehouse

Westmount Realty Capital, LLC announced the sale of a 289,491-square-foot supply chain building inside the Rickenbacker Global Logistics Industrial Park in Columbus, OH. FedEx Supply Chain, Inc. has fully occupied the cross-dock building since September 2019.
 
“Demand for prime industrial space is thriving, and Columbus is a developing logistics epicenter with a strong industrial market,” said Cliff Booth, CEO of Westmount. “We were able to actively manage the asset, growing occupancy from 60% to 100% with stable cash flow.”
 
The building is used for third-party logistics distribution and is adjacent to Rickenbacker International Airport, one of the only cargo-dedicated airports in the world.
 
“Location is everything when it comes to logistics,” said Brant Brown, COO and CFO at Westmount. “The fast-growing Columbus region headquarters 14 of Fortune’s top 1,000 companies, so the economy will remain strong.”
 
Newmark’s Jerry Hopkins represented Westmount in the sale. Deal terms weren’t disclosed.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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