{"id":1004734374,"date":"2024-10-25T03:20:37","date_gmt":"2024-10-25T11:20:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734374"},"modified":"2024-12-03T02:39:54","modified_gmt":"2024-12-03T10:39:54","slug":"eqt-exeter-buys-1-6-msf-in-columbus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/","title":{"rendered":"EQT Exeter Buys 1.6 MSF in Columbus"},"content":{"rendered":"\n

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\"Aerial<\/a>
Phase One of The Hub at London Groveport comprises four industrial buildings. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

EQT Exeter has purchased the first phase of The Hub at London Groveport, an industrial park in the Columbus suburb of Lockbourne, Ohio, as well as a 6.7-acre trailer parking lot. A joint venture between Xebec and Heitman sold the assets with assistance from JLL.<\/p>\n\n\n\n

The Hub\u2019s Phase One comprises 1.6 million square feet across four industrial buildings that debuted in 2021. Two more facilities are expected to come online during Phase Two.<\/p>\n\n\n\n

The portfolio includes a cross-dock facility measuring approximately 1 million square feet and three rear-load properties totaling 531,495 square feet. <\/p>\n\n\n\n

All four buildings have 32-foot clear heights and a total of 277 dock-high doors and 10 grade-level doors, while truck courts’ depth ranges between 60 and 130 feet. The portfolio was 91 percent leased at the time of sale, Amazon being one of the two tenants on the roster.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Industrial Deal Volume Down, Prices High<\/a><\/p>\n\n\n\n

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Carrying the addresses 6201 and 6322 Collings Drive, as well as 1260 and 1302 London Groveport Road, The Hub is 10 miles southeast of downtown Columbus. Rickenbacker International Airport\u2014one of the world\u2019s largest cargo-dedicated airports, handling monthly more than 30 million pounds\u2014operates 3 miles away.<\/p>\n\n\n\n

The JLL team representing the seller included Senior Managing Director John Huguenard, President Jody Thornton, Managing Director Ed Halaburt and Director William McCormack.<\/p>\n\n\n\n

EQT Exeter expands near airports<\/h2>\n\n\n\n

As of October, EQT Exeter had more than $30 billion in global equity under management. Across the globe, the company owns and operates north of 2,000 assets spanning more than 375 million square feet\u2014and it keeps expanding its industrial portfolio.<\/p>\n\n\n\n

Just this week, EQT Exeter paid $143.2 million<\/a> in an all-cash transaction for the Phoenix Gateway Portfolio. Link Logistics sold the six industrial buildings encompassing 860,200 square feet, also located in an airport submarket.<\/p>\n\n\n\n

Despite sizable pipeline, Columbus’ industrial vacancy remains stable<\/h2>\n\n\n\n

The industrial investment volume<\/a> in Greater Columbus reached $571 million year-to-date as of August, according to a CommercialEdge report. Assets traded for $82 per square foot, below the national average of $132 per square foot.<\/p>\n\n\n\n

In one of the metro’s larger transactions W.P. Carey acquired Rickenbacker Exchange at Commercial Point\u2019s Building 2, a 1.2 million-square-foot speculative industrial facility. VanTrust Real Estate sold the asset for $94.1 million<\/a>.<\/p>\n\n\n\n

Greater Columbus\u2019 vacancy rate clocked in at 4.6 percent in August, the report goes on to show. The Discovery City had the third-lowest rate in the U.S., overshadowed only by Charlotte, N.C. (4.0 percent), and Bridgeport, Conn. (4.2 percent).<\/p>\n\n\n\n

One factor in Greater Columbus\u2019 rise in vacancy can be attributed to its industrial pipeline. As of August, the metro had 8.7 million square feet of industrial space underway\u2014representing 2.8 percent of stock, ahead of the national average of 1.9 percent, the same source reveals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amazon fully occupies the largest of the industrial buildings.<\/p>\n","protected":false},"author":3471,"featured_media":1004734375,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21808,21748,21783,13,21742],"tags":[51502,33276,32796,36830],"class_list":["post-1004734374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-featured","category-industrial","category-investment","category-midwest","category-latest","tag-eqt-exeter","tag-heitman","tag-jll","tag-xebec"],"acf":[],"yoast_head":"\nEQT Exeter Buys 1.6 MSF in Columbus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"EQT Exeter bought Phase One of The Hub at London Groveport, an industrial park in Columbus, Ohio, from Xebec and Heitman.\" \/>\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\/eqt-exeter-buys-1-6-msf-in-columbus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EQT Exeter Buys 1.6 MSF in Columbus\" \/>\n<meta property=\"og:description\" content=\"EQT Exeter bought Phase One of The Hub at London Groveport, an industrial park in Columbus, Ohio, from Xebec and Heitman.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/\" \/>\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=\"2024-10-25T11:20:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-03T10:39:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/The-Hub-at-London-Groveport-1-e1732012598964.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\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\/eqt-exeter-buys-1-6-msf-in-columbus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/\",\"name\":\"EQT Exeter Buys 1.6 MSF in Columbus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/The-Hub-at-London-Groveport-1-e1732012598964.jpg\",\"datePublished\":\"2024-10-25T11:20:37+00:00\",\"dateModified\":\"2024-12-03T10:39:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"EQT Exeter bought Phase One of The Hub at London Groveport, an industrial park in Columbus, Ohio, from Xebec and Heitman.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-buys-1-6-msf-in-columbus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/The-Hub-at-London-Groveport-1-e1732012598964.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/The-Hub-at-London-Groveport-1-e1732012598964.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The Hub at London Groveport is in an airport submarket. 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