COLUMBUS, OHIO – 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.
Photos available for download here.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $5.0 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for investors across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The investors included in this press release were not selected based on performance, but because they are some of the largest well-known investors with similar strategic alliances. It is unknown whether these investors approve or disapprove of TIG or its services or products.
Media Contact:
Molly McMurtry
713.231.1571
molly.mcmurtry@transwestern.com
twmediarelations@transwestern.com
