Exclusive: JP Morgan AM Cashes In $55M for Cincinnati Industrial Asset

JP Morgan Asset Management has sold Park West International’s Building G, a 710,000-square-foot facility in Hebron, Ken., Yardi Matrix information shows. STAG Industrial purchased the metro Cincinnati facility for $54.8 million.

The property previously traded back in December 2013. JP Morgan Asset Management acquired it for just $25.9 million from DCT Industrial.

Automotive filtration company Premium Guard recently fully leased the facility after it was vacated earlier this year. First Brands Group had previously occupied the warehouse before filing for Chapter 11 bankruptcy in late 2025. The property now serves as Premium Guard’s fifth distribution center.

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Located at 1100 Worldwide Blvd., the facility is close to Interstate 275 and Highway 237 and less than 5 miles away from Cincinnati/Northern Kentucky International Airport. Downtown Cincinnati is 16 miles away. Completed in 1998, the Class A building has 30-foot maximum clear heights, as well as 82 dock-high loading doors and five drive-in doors.

Park West International comprises 18 facilities totaling 6.1 million square feet across 400 acres. Key tenants include Amazon, DHL and UPS, among many others.

Cincinnati’s industrial sales lag peers

Cincinnati’s industrial investment activity year-to-date as of September totaled just $673 million, marking the lowest volume among the largest 25 U.S. metros, according to a recent Yardi Matrix report. Assets in the metro traded for only $85 per square foot, well below the $140 national average. Building G changed hands for $77.1 per square foot, even less than the metro’s threshold.

In the Erlanger-Florence submarket, eight facilities traded in the first three quarters of this year, totaling about 1 million square feet. The average price per square foot in the area was $60.3, nearly a third below the market figure.