Campbell Hausfeld Renews 309,000-SF Lease

HARRISON, OH-Campbell Hausfeld, a tool manufacturer, has renewed a 309,000-sf industrial lease at a building here. ProLogis leases the entire building to the company, which will continue to use the space as its divisional headquarters and nationwide distribution center.

The company started in the city more than a century ago, making plowshares, says Dave Kelly, a VP with ProLogis. He says the firm has leased the building at least since the early 1980s, when his company bought it. The tenant is now a subsidiary of Berkshire Hathaway. "The company's not going to go away, they employ a lot of people there, and are a pillar of the community," Kelly tells GlobeSt.com. He says he can't divulge the length of the lease term, but says similar buildings in the market lease for between $2.75 to $3.50 per sf.

The area is one of the smaller submarkets of Cincinnati, Kelly says. "Every little bit helps," he says. "In terms of preservation of the state, keeping manufacturing jobs, which have been bleeding in Ohio, is a good thing. We seem to be seeing slow, steady growth in Cincinnati, and vacancies appear to be shrinking." The company also leased a 110,000 sf to LeSaint Logistics at Capital Center Two, a 521,000-sf, ProLogis-owned industrial park off of I-275. Si Pitstick with Cincinnati Commercial Realtors and Alain LeCoque from Newmark Knight Frank represented Campbell Hausfeld. Pitstick and Josh Young with CCR represented LeSaint.