Covington Lands 800 KSF Industrial Portfolio
The Dallas-based company purchased a 500,625-square-foot warehouse and distribution facility in Columbus, Ohio, and a 300,000-square-foot facility in Baltimore. The buyer plans to make improvements to the buildings.
By Laura Calugar
Map view of the properties
Real estate investment firm Covington Group Inc. announced the acquisition of a value-add industrial portfolio consisting of a two building, 500,625-square-foot warehouse in Columbus, Ohio, and a 300,000-square-foot asset in Baltimore.Â
Located at 4800 Poth Road, near the John Glenn Columbus International Airport, the property is currently 70 percent leased to a single tenant—beverage distributor Glazer’s. The distribution facility is approximately five miles from the junction between Interstates 270 and 670. Covington plans to increase occupancy of the property by improving the buildings’ exterior paint and refreshing its landscaping.
The single building facility in Baltimore is currently vacant and being acquired alongside an additional 38 acres of adjacent land. Covington intends to improve the asset’s exterior and interior finishes, lighting, roof and significantly expand its truck court.
Image via Google Earth
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