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PCCP Lends to Stonemont for 1.1M-SF Columbus Industrial Buy
PCCP, LLC provided a senior loan to Stonemont Financial Group for the acquisition of West Jeff One, a newly constructed, 1.1-million-square-foot, Class A industrial warehouse facility. Financial terms weren’t disclosed. The asset is located along Route 40 and just south of I-70 in the West Jefferson submarket of Columbus, OH.
“We are extremely excited to grow the relationship with Stonemont on this strategic acquisition of a well-conceived, well-located bulk warehouse,” said Ryan Dodge, managing director with PCCP. “In PCCP’s view, this Class A industrial asset is located in one of the strongest industrial pockets of Columbus and there is a significant amount of leasing interest from large users in the West Jefferson submarket which is currently extremely tight on industrial vacancy.”
The West Jefferson submarket has emerged as a key distribution hub within the Columbus MSA and has attracted users such as Amazon, Target, Ace Hardware, and Home Depot.
- ◦Financing
