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Plymouth Completes UPREIT Buy in Greater Cincy

Plymouth Industrial REIT has completed its previously-announced acquisition of a 1.1-million-square-foot, Class B industrial property in Fairfield, OH for $24.8 million. It represents Plymouth’s second UPREIT transaction.

The acquisition more than doubles Plymouth’s presence in the Cincinnati market, said Pendleton White, the REIT’s president and CIO. It also “significantly diversifies our tenant base, presents multiple industrial uses, and provides future development potential with over 40 additional acres.”

White added that Fisher Park is rail-served by CSX “and over 400,000 square feet is crane-served as well, making it one of the more unique properties in our portfolio.”

Located on 103 acres, Fisher Park is 92% leased to 12 tenants. Major tenants include Gardens Alive!, a mail-order company; Common Wealth Inc., a logistics services company; and Duefol, an industrial packaging company.

CEO Jeff Witherell said, “We continue to have significant interest from property owners in discussing potential UPREIT transactions with us.”

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Inside The Story

Read more at BusinessWireConnect With Plymouth's Witherell and White

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 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).

  • ◦Sale/Acquisition
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