Transwestern Investment Group (TIG®) announces it has acquired Rickenbacker Global Logistics Park Rail Site 8 on behalf of a separately managed account. The 582,400-square-foot industrial asset located at 1417 Rail Southern Court in Columbus, Ohio, is fully leased to an investment-grade tenant.
“Rickenbacker Global Logistics Park Rail Site 8 sits in one of the country’s most desirable industrial submarkets,” said Andy Norman, Director, TIG. “Its premier location, attractive basis and high-quality tenant made this acquisition an appealing opportunity, adhering to our strategy to obtain well-positioned assets in key logistics markets across the U.S.”
Situated adjacent to Ohio’s Rickenbacker International Airport, the distribution center is less than three miles north of the Norfolk Southern Rickenbacker Intermodal Terminal with proximity to major thoroughfares, including Interstates 270, 71 and 70, allowing for distribution to 50% of the U.S. population within one day and cross-country access within two days.
The Southeast submarket of Columbus continues to experience significant demand for industrial space, which has led to strong net absorption and low vacancy rates. According to Transwestern research, the Columbus industrial market ended the fourth quarter of 2022 with 3.6% vacancy and posted annual rent growth of 19.8%.
Colliers Midwest Investment Services Team brokered the deal.
