{"id":1004200460,"date":"2017-12-15T12:40:12","date_gmt":"2017-12-15T20:40:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200460"},"modified":"2022-12-08T18:56:26","modified_gmt":"2022-12-09T02:56:26","slug":"exeter-property-acquires-2-industrial-assets-near-columbus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exeter-property-acquires-2-industrial-assets-near-columbus\/","title":{"rendered":"Exeter Property Acquires 2 Industrial Assets Near Columbus"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004200462\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004200462\" data-attachment-id=\"1004200462\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exeter-property-acquires-2-industrial-assets-near-columbus\/2400-spiegel-drive-groveport-ohio\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"2400 Spiegel Drive, Groveport, Ohio\" data-image-description=\"&lt;p&gt;2400 Spiegel Drive, Groveport, Ohio&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;2400 Spiegel Drive, Groveport, Ohio&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg?w=800\" class=\"wp-image-1004200462 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg\" alt=\"2400 Spiegel Drive, Groveport, Ohio\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/2400-Spiegel-Drive-Groveport-Ohio.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004200462\" class=\"wp-caption-text\">2400 Spiegel Drive, Groveport, Ohio<\/p><\/div>\n<p>Exeter Property Group has purchased a two-building industrial portfolio from a joint venture advised by J.P. Morgan Asset Management. A team of brokers from Avison Young arranged the transaction on behalf of the seller. The assets, which encompass a total of 451,215 square feet, are located within the Rickenbacker Global Logistics Park, a 30-million square feet development spread over several towns\u00a0near Columbus, Ohio.<\/p>\n<p>\u201c<em>This portfolio demonstrates the continued movement of investors into growing secondary markets,<\/em>\u201d said Avison Young Principal Erik Foster, in prepared remarks. \u201c<em>The strength of the Columbus industrial market, along with the outlook for long-term tenancy, made this portfolio an attractive opportunity for investors.<\/em>\u201d<\/p>\n<p>The investment continues the series of <a href=\"https:\/\/www.commercialsearch.com\/news\/indianapolis-industrial-portfolio-changes-hands\/\">Midwest industrial acquisitions<\/a>\u00a0that Exeter Property Group has completed this year.\u00a0<\/p>\n<h2>Strong tenancy<\/h2>\n<p>The portfolio\u00a0comprises:<\/p>\n<ul>\n<li>Rickenbacker IV, a 330,179-square-foot distribution center located at 2400 Spiegel Drive in Groveport, Ohio<\/li>\n<li>Creekside V, a 121,035-square-foot laboratory facility located at 2150 Bixby Road in Lockbourne, Ohio<\/li>\n<\/ul>\n<p>Both buildings are close to interstates 70 and 71, the Rickenbacker International Airport and Port Columbus International Airport. The Rickenbacker IV building is 70 percent leased to Essilor of America. The optical lens manufacturer moved into the facility in 1996 and has almost doubled its space since then.<\/p>\n<p>The Creekside facility&#8217;s tenant is Luxottica. The accessories company\u00a0has been leasing the entire property since 2007, having invested approximately $30 million in specialized equipment so far.<\/p>\n<p>Foster and Mike Wilson, also a principal with Avison Young, negotiated the deal on behalf of the seller.\u00a0<\/p>\n<p><em>Image courtesy of Avison Young<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Both buildings are located within the Rickenbacker Global Logistics Park and offer long-term leases. The previous owner was a partnership of several institutional investors advised by  J.P. Morgan. <\/p>\n","protected":false},"author":1064,"featured_media":1004200462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21743,21748,13,21742],"tags":[33022,35364,33223],"class_list":["post-1004200460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-deals","category-industrial","category-midwest","category-latest","tag-avison-young","tag-exeter-property-group","tag-j-p-morgan-asset-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Exeter Property Acquires 2 Industrial Assets Near Columbus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/exeter-property-acquires-2-industrial-assets-near-columbus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exeter Property Acquires 2 Industrial Assets Near Columbus\" \/>\n<meta property=\"og:description\" content=\"Both buildings are located within the Rickenbacker Global Logistics Park and offer long-term leases. 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