Opus Plans Almost 900,000 SF at Two Sites

COLUMBUS, OH-Officials with Rosemont, IL-based Opus North say that demand is high in the Columbus area, and the company is building two industrial facilities that will total almost 900,000 sf. Opus plans to build the 401,350-sf Opus Two at Big Run in Urbancrest and the 496,159-sf Opus Business Center at Rickenbacker Seven in Groveport.

The three-million-sf Rickenbacker park is 2.5 miles south of I-270, near the Rickenbacker International Airport, and features tenants such as Yokohama Tire Corp., Medline and Xerox. Construction on the new building will begin this month, with completion slated for the fourth quarter. Opus has received a 100% real estate tax abatement for 15 years for the project. The building's features include 36-foot-high ceilings, a unique amenity for the area, says Andrew Weeks, vice president of real estate development for Opus. "We're the only ones that have done 36-clear height in Columbus, it's a nice benefit for certain warehouse users," he tells GlobeSt.com.

The Opus Two building will be on 22 acres, with construction also starting this month and ending in the fourth quarter. McKesson Medical-Surgical Inc. leases 242,000 sf at the Opus One building, and the second building will be the final project at Big Run, Weeks says. This building also received a 100% real estate tax abatement for 15 years.

He says both of the new speculative buildings have interested tenants. "There's demand in both submarkets, and we have very little available space in those areas." He says he can't share how much it will cost to build the facilities, but says the asking lease rate will be $3.25 per sf. The vacancy rate for the Columbus market is at about 11.5%.