Market for Ohio Distribution Bldgs. Heats Up

COLUMBUS—Strong tenant activity in this centrally-located city has encouraged a number of top developers to start breaking ground on class A distribution buildings. Just yesterday, GlobeSt.com reported that NorthPoint Development recently began to put up a 1-million-square-foot structure near Rickenbacker International Airport. And Duke Realty Corp. just became the latest builder to start a new bulk facility. Officials from the REIT announced yesterday that, along with the Columbus Regional Airport Authority and Capitol Square, Ltd. they will build a 482,300-square-foot warehouse at Rickenbacker Global Logistics Park southeast of Columbus.

In addition, INNO-PAK, LLC, a Delaware, OH-based designer, manufacturer and distributor of packaging products for the grocery and food service industries, has already agreed to lease 53% or 253,838 square feet of the new building. Duke and its partners are constructing the warehouse, which they will call Intermodal North Building 3, on a 33-acre site between Rickenbacker Pkwy. and the airport.