The rest of the building is vacant, says Doug Armbruster, VP of leasing for IDI. He represented his firm, the park's owner, in the lease, and Josh Young with Cincinnati Commercial Realtors represented the tenant. Armbruster says the building leases for $3.75 per sf, triple net.
The candy maker will use the building, which is only eight miles away from the firm's headquarters and manufacturing facility in Erlanger, for storage and distribution, Armbruster says. The building has 28-foot clear heights, allowing Perfetti to increase its storage capacity, he says.
The park is made up of about six million sf of industrial space spread across 400 acres. "The park is about 94% leased," Armbruster tells GlobeSt.com. "The market here has been steady. It was a little slow last year, but it remains a good market." The park is in a southern submarket of Cincinnati.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.