Würth Business North America has acquired a 472,000-square-foot industrial asset in Columbus, Ohio, with the potential for a future growth of 500,000 sq. ft. MSC Industrial Provide bought the property for $32 million, in response to CommercialEdge knowledge.
The acquisition is a part of a $42.5 million funding plan by Würth, which is about to increase the corporate’s distribution community. The agency provides manufacturing supplies and metalworking merchandise, amongst others, and plans to make the most of the constructing to inventory a full assortment of things.
MSC vacated the power throughout 2024’s third quarter, in response to a report by Colliers. Since then, the Metropolis of Columbus labored to draw new enterprise, Mayor Andrew Ginther mentioned in ready remarks.
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Town proposed a five-year, dual-rate Jobs Progress Incentive Settlement with Würth, a bulletin exhibits. Below this settlement, the native authorities would make funds based mostly on the variety of new workers, amongst different standards. Würth pledged to create as much as 160 new full-time jobs.
Positioned on greater than 70 acres at 1568 Georgesville Street, the 2013-built property is roughly 10 miles southwest of downtown Columbus. Thoroughfares corresponding to U.S. Route 40 and Interstate 270 will be discovered inside about 3 miles, whereas the Bolton Discipline airport operates lower than 2 miles away.
Columbus’ sturdy industrial funding
Metro Columbus’ industrial gross sales quantity wrapped up 2024 at $989 million, in response to the most recent CommercialEdge report. Belongings traded on common for $79 per sq. foot final yr, beneath the nationwide common of $129 per sq. foot. Different Midwestern markets fared higher, such because the Twin Cities ($95 per sq. foot) and Chicago ($92).
The Hub at London Groveport’s section one was among the many industrial belongings that traded final yr. EQT Exeter bought the 1.6 million-square-foot assortment from a three way partnership between Xebec and Heitman.
