(To read more on the industrial market, click here.)

COLUMBUS, OH-Ferguson, a Virginia-based wholesale distributor of plumbing, and Redemtech, a local provider of Technology Change Management services, have signed a total of 266,000 sf in two separate ProLogis-owned facilities.

Ferguson is taking 121,000 sf in the Capital Park East industrial park, 438 McCormick Blvd., which will serve as the company’s warehouse and distribution facility in the Columbus area. Currently, the company leases more than 227,000 sf from ProLogis in Chattanooga, TN, Cincinnati, Dallas and Tampa, FL. Lease rates at the park range from $2.50 per sf to $2.90 per sf.

Redemtech has leased 145,000 sf at ProLogis’ Brookham Distribution Center in Grove City, at 3650 Brookham Dr., which will serve as a major service center for the company’s processing, storage and shipping operations. Micro Electronics currently leases more than 400,000 sf from ProLogis in Columbus. Lease rates in the Brookham park range from $2.65 per sf to $3 per sf.

Brian Marsh, ProLogis senior vice president and Columbus market officer, says the two leases are an example of ProLogis’ focus on repeat business and growing with the current customer base of 400. He says that while the leasing activity is quite possibly a reflection of the overall economy, the Columbus industrial market has seen an increase in leasing activity during the past 12 to 24 months.

With more than 200 million sf of industrial space in the metropolitan area, the vacancy rate is on the rise as a result of new developments coming online. According the Grubb & Ellis’ most recent findings, 835,887 sf were absorbed during the second quarter but the vacancy rate climbed to 11.3%.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.