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| Craig Tomlinson |
The 134,000 SF building is located at 3191 Railside Avenue
near the CBD and is fully leased to a ‘Fortune 5’ ecommerce company.
Craig Tomlinson and John
Zimmerman of Stan Johnson Company represented the seller, Neyer
Properties. EXAN Group represented the buyer, a discretionary Spanish
commercial real estate group.
The cap rate was not disclosed. The site is
part of a larger tract that Neyer had acquired in recent years from the City as
part of their urban renewal efforts.
The newly
constructed ‘last mile’ delivery station facility sits on 22.5 acres on the
riverfront near downtown providing easy access to the greater Cincinnati and
Northern Kentucky areas.
 |
| John Zimmerman |
“It’s a real win for the City of Cincinnati to see a such a high-profile user locate near the urban core”, said Tomlinson. “The investment market for e-commerce real estate is at an all-time high and we are pleased to be a part of this success story”.
Likewise, Juan José Zaragoza, managing partner and
founder of EXAN, stated that the group plans to continue its aggressive
acquisition strategy throughout the U.S., focusing in no small measure on
investment grade single tenant distribution facilities like this one, but
without dismissing opportunities in both the retail and office sectors.
 |
| José Zaragoza |
CONTACT
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member, National Association of Real Estate Editors (NAREE)
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