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ILPT Adds Newly Built Columbus Industrial to Portfolio

Industrial Logistics Properties Trust (ILPT) disclosed on its recent second-quarter earnings call that it acquired an industrial property in Columbus, OH for $31.5 million. The newly built 7303 Rickenbacker Pkwy. West is 100% net leased to Synnex Corporation for seven years. 

A Colliers team of Steve Disse, Alex Cantu, Jeff Devine and Michael Linder brokered the sale of the 357,504-square-foot property, which is located near the Rickenbacker intermodal terminal and airport. The seller wasn’t disclosed. The acquisition includes excess land that can accommodate a future expansion of more than 100,000 square feet. 

“7303 Rickenbacker Pkwy. West is a high-quality industrial property in the Columbus market area, one of the country’s premier distribution corridors due to its strong rental growth and central location, providing access to nearly 60% of both the U.S. and Canadian population within a one-day drive,” said Yael Duffy, COO of ILPT. 

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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 13-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 15-20 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).