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Chicago & Midwest  + Midwest  + Industrial  | 

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.

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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).

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