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JV Sells Mission-Critical Columbus Industrial
JLL Capital Markets closed the sale of, and secured acquisition financing for, a fully leased, 583,000-square-foot, mission-critical distribution center at 8355 Highfield Dr. within Columbus, OH’s Lewis Center. The property is fully leased on a long-term basis to a large, multi-national manufacturer of heavy-duty trucks, buses and construction equipment.
A JLL team of Coler Yoakam, Robin Stolberg, Kurt Sarbaugh and Dan Wendorf marketed the property on behalf of the seller, a joint venture between Covington Group and Castlelake. Equity Industrial Partners purchased the asset. Additionally, working on behalf of the new owner, JLL arranged a 10-year, fixed-rate, non-recourse loan with an insurance company.
The JLL Capital Markets debt placement team representing the new owner included Ken Martin, Anthony Cutone and Brandon Chavoya. Located in the low-vacancy Columbus industrial market, the 33-year-old property features a 24-foot clear height, 32 dock-high doors, four drive-in doors, LED lighting and low office finish.
- ◦Sale
