By Laura Calugar
Becknell Industrial purchased a 14-acre industrial site in the center of northern Cincinnati’s manufacturing and distribution hub. CBRE assisted with the acquisition of the lot in Fairfield, Ohio, where Becknell intends to develop a 176,800-square-foot speculative industrial building. The project is slated for completion at the beginning of next year.
Located on Commerce Center Drive, off Seward Road in Butler County, the facility will be accessible from interstates 75 and 275. The Fairfield Commerce Center is zoned M-2 (general industrial), which allows for a variety of building uses. Designed to accommodate multiple tenants, Becknell’s facility will include several sustainability features to reduce operating costs. The proposed building will feature:
- 32-foot clear height
- 18 docks with complete dock packages
- two drive-in doors
- ESFR sprinkler system
- 136 parking spaces
- LED motion sensor lighting
“Becknell is excited to further expand our presence in the Cincinnati market and to continue to build upon the success that we’ve experienced at our Port Union development project,” said Katrina Cupp, assistant vice president of investments at Becknell Industrial, in prepared remarks. Cincinnati’s industrial campus Port Union Commerce Park is currently fully leased.
The spec building will be within 600 miles of more than 60 percent of all U.S. manufacturing. The Cincinnati/ Northern Kentucky International Airport is approximately 42 miles away. According to CBRE, Cincinnati is the fifth largest inland port in the country, handling 220 million tons of cargo each year. The metro’s industrial market includes more than 282 million square feet. Net absorption for the first quarter of this year was three million square feet of industrial space.
“This building will offer existing and new-to-market tenants the opportunity to operate in a modern, efficient facility. The features in the building will help tenants lower operational costs while also helping to retain and recruit talent in this competitive labor landscape,” said CBRE First Vice President Jeremy Kraus.
Image courtesy of CBRE