3650 REIT, JP Morgan Chase Provide $62M Refi on Columbus Industrial

3650 REIT and JPMorgan Chase & Co. have originated a $62 million loan to refinance Columbus Business Park, a 2.2 million-square-foot industrial property located at 4545 Fisher Road in Columbus, Ohio.

The loan carries a term of five years and is provided to sponsors Industrial Commercial Properties LLC, a Cleveland-based developer and Industrial Realty Group, a nationwide development and investment firm. ICP and IRG are repeat borrowers for 3650 and JPMorgan Chase, who together previously provided a $180 million loan to the sponsors to refinance a six-property, approximately seven million-square-foot industrial portfolio across Michigan and Ohio in April 2023.

Columbus Business Park is a multi-tenant warehouse and distribution center near major employers, including Honda Motor Co., Ltd., Sherwin-Williams Company, The Boeing Company, Proctor & Gamble and DuPont. Firms seeking to build new data centers and manufacturing plants in the market include Intel, Google and Microsoft.

“Industrial assets in select markets across the U.S. continue to offer strong opportunity for investment,” said 3650 REIT Co-Founder and Managing Partner Toby Cobb.

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