Comunale Properties Expands with Ohio Industrial Buy
Commercial real estate investor and developer Comunale Properties has acquired the industrial building at 3705-3711 Parkway Lane in Hillard, Ohio. The acquisition is Comunale’s second investment in Columbus and continues the company’s strategy of acquiring well-located, infill industrial assets in high-growth markets across the U.S.
Ray Boll and Jeff Boll of RJ Boll Realty represented the property seller. Comunale was unrepresented. Located in the Hillard submarket of West Columbus, the property sits immediately off a major interchange with I-270, offering easy access to the Columbus highway system. The area is known for its limited industrial supply, leading to a low 1.5 percent vacancy rate.
The property seller will lease back a portion of the property’s warehouse space on a short-term basis while relocating its operations. Immediately upon acquisition, Comunale leased the remainder of the property to a leading national mechanical, fire protection and HVAC company that will eventually occupy the entire premises.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.