{"id":1004158117,"date":"2016-11-04T03:27:49","date_gmt":"2016-11-04T11:27:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158117"},"modified":"2021-05-14T21:40:03","modified_gmt":"2021-05-15T05:40:03","slug":"wpt-industrial-real-estate-investment-trust-acquires-distribution-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-real-estate-investment-trust-acquires-distribution-facility\/","title":{"rendered":"WPT Industrial Acquires Distribution Facility in Columbus"},"content":{"rendered":"<p>By Gabriel Culcsar<\/p>\n<div id=\"attachment_1004158125\" style=\"width: 350px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004158125\" data-attachment-id=\"1004158125\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-real-estate-investment-trust-acquires-distribution-facility\/industrial-facility\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png\" data-orig-size=\"1368,584\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Southwest One, Grove City, Ohio\" data-image-description=\"&lt;p&gt;Southwest One, Grove City, Ohio&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Southwest One, Grove City, Ohio&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004158125\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png\" alt=\"Southwest One, Grove City, Ohio\" width=\"340\" height=\"145\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png 1368w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png?resize=300,128 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png?resize=768,328 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Industrial-facility.png?resize=1024,437 1024w\" sizes=\"auto, (max-width: 340px) 100vw, 340px\" \/><\/a><p id=\"caption-attachment-1004158125\" class=\"wp-caption-text\">Southwest One, Grove City, Ohio<\/p><\/div>\n<p><strong>Columbus, Ohio<\/strong>\u2014<a href=\"https:\/\/www.wptreit.com\" rel=\"nofollow noopener\" target=\"_blank\">WPT Industrial Real Estate Investment Trust<\/a> has acquired <a href=\"https:\/\/www.vantrustrealestate.com\/property\/southwest-one\/\" rel=\"nofollow noopener\" target=\"_blank\">Southwest One<\/a>, a distribution facility located at 3360 Southwest Blvd. in Grove City, Ohio. The purchase price was of approximately $13.9 million all cash, having a capitalization rate of 6.8 percent.<\/p>\n<p>The 226,800-square-foot property was completed in 2015 by developer <a href=\"https:\/\/www.vantrustrealestate.com\" rel=\"nofollow noopener\" target=\"_blank\">Van Trust Real Estate<\/a> and designed by Red Architecture + Planning LLC. The state-of-the-art Class A distribution facility features a modern front-office, rear-load design, ESFR sprinkler system, T-5 lightning and ample trailer and auto parking.<\/p>\n<p>The asset is fully leased to <a href=\"https:\/\/www.dollarshaveclub.com\" target=\"_blank\" rel=\"noopener noreferrer\">Dollar Shave Club<\/a>, a wholly-owned subsidiary of Unilever and Bridgestone. The leases include average annual contractual increases in the tenant&#8217;s rental rate of approximately 2.5 percent through the balance of the lease terms.<\/p>\n<p>&#8220;We are pleased to be increasing our presence in the Ohio distribution market with this accretive acquisition while further strengthening and diversifying our overall property and tenant portfolio,&#8221; said Scott Frederiksen, CEO of WPT Industrial in prepared remarks.<\/p>\n<p><em>Image courtesy of Van Trust Real Estate<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Southwest One changed hands for approximately $13.9 million.<\/p>\n","protected":false},"author":1065,"featured_media":1004158125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,13,21742],"tags":[],"class_list":["post-1004158117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-midwest","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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