{"id":1004405026,"date":"2020-04-01T03:48:34","date_gmt":"2020-04-01T11:48:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004405026"},"modified":"2021-05-15T06:51:00","modified_gmt":"2021-05-15T14:51:00","slug":"newly-built-ohio-facility-trades-for-18m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newly-built-ohio-facility-trades-for-18m\/","title":{"rendered":"Newly Built Ohio Facility Trades for $18M"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/i><\/p><\/div>\n

Monmouth Real Estate Investment Corp. has acquired a newly built 153,000-square-foot industrial facility in Lancaster, Ohio, for $17.9 million. SunCap Property Group sold the asset, according to Fairfield County records. Magna Seating of America, a subsidiary of Magna International, has signed a 10-year net lease for the building.<\/p>\n

The developer broke ground on the building eight months ago. First Commonwealth Bank provided an $11.7 million construction loan, public records show. Magna\u2019s initial investment for the property was $60 million. This marks the company\u2019s fifth manufacturing facility in the state. Located at 747 Mill Park Drive, the property sits on roughly 25 acres, close to U.S. Route 33. Downtown Columbus is some 28 miles away, while Rickenbacker International Airport is 20 miles from the facility.<\/p>\n

This is not the first time Monmouth acquired a SunCap property. In 2018, the REIT paid $61.1 million<\/a> for a 373,750-square-foot industrial asset in Atlanta. That facility is net leased to FedEx for 15 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

Magna Seating of America occupies the 153,000-square foot building, the manufacturer\u2019s fifth location in the state.<\/p>\n","protected":false},"author":867,"featured_media":1004386577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21743,21748,21783,13,21742],"tags":[33340,36576],"class_list":["post-1004405026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-deals","category-industrial","category-investment","category-midwest","category-latest","tag-monmouth-real-estate-investment-corporation","tag-suncap-property-group"],"acf":[],"yoast_head":"\nNewly Built Ohio Facility Trades for $18M - 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\/newly-built-ohio-facility-trades-for-18m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newly Built Ohio Facility Trades for $18M\" \/>\n<meta property=\"og:description\" content=\"Magna Seating of America occupies the 153,000-square foot building, the manufacturer\u2019s fifth location in the state.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newly-built-ohio-facility-trades-for-18m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-01T11:48:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T14:51:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/industrial-news-02.-Image-via-Pixabay.com_.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Pavel Cazacu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newly-built-ohio-facility-trades-for-18m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newly-built-ohio-facility-trades-for-18m\/\",\"name\":\"Newly Built Ohio Facility Trades for $18M - 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