Würth Trade North America has acquired a 472,000-square-foot industrial asset in Columbus, Ohio, with the potential for a future enlargement of 500,000 sq. toes. MSC Industrial Provide bought the property for $32 million, in response to CommercialEdge information.
The acquisition is a part of a $42.5 million funding plan by Würth, which is about to develop the corporate’s distribution community. The agency provides manufacturing supplies and metalworking merchandise, amongst others, and plans to make the most of the constructing to inventory a full assortment of things.
MSC vacated the power throughout 2024’s third quarter, in response to a report by Colliers. Since then, the Metropolis of Columbus labored to draw new enterprise, Mayor Andrew Ginther mentioned in ready remarks.
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Town proposed a five-year, dual-rate Jobs Development Incentive Settlement with Würth, a bulletin reveals. Beneath this settlement, the native authorities would make funds primarily based on the variety of new workers, amongst different standards. Würth pledged to create as much as 160 new full-time jobs.
Positioned on greater than 70 acres at 1568 Georgesville Highway, the 2013-built property is roughly 10 miles southwest of downtown Columbus. Thoroughfares akin to U.S. Route 40 and Interstate 270 might be discovered inside about 3 miles, whereas the Bolton Subject airport operates lower than 2 miles away.
Columbus’ strong industrial funding
Metro Columbus’ industrial gross sales quantity wrapped up 2024 at $989 million, in response to the newest CommercialEdge report. Property traded on common for $79 per sq. foot final 12 months, beneath the nationwide common of $129 per sq. foot. Different Midwestern markets fared higher, such because the Twin Cities ($95 per sq. foot) and Chicago ($92).
The Hub at London Groveport’s part one was among the many industrial property that traded final 12 months. EQT Exeter bought the 1.6 million-square-foot assortment from a three way partnership between Xebec and Heitman.
