Columbus

The Columbus industrial portfolio contains three infill assets in Columbus’s West submarket and one asset in the more southern Rickenbacker submarket. The four buildings total 535,770 square feet and range in size from 52,000 to 289,491 square feet. Overall, the portfolio features a diverse mix of strategically located last mile facilities with an average unit size of 100,000 square feet.

Westmount acquired these assets in late 2018. At the time of acquisition, the portfolio was 78% occupied with vacancy concentrated in one property. Average WALT at the time of purchase was 3 years. Historical tenant retention has been exceptionally high, averaging 18 years.

Columbus is a developing logistics epicenter with a strong industrial market. At the time of acquisition, vacancy rates measured at 3.91% following the market’s fifth consecutive quarter of positive absorption. Logistics ande-commerce companies remain the major forces on the market, driving demand for prime industrial space. With this acquisition, Westmount entered a promising market while expanding its portfolio of Midwest industrial properties.

2221-2303 John Glenn Avenue Current Availability

  • Multi-tenant
  • 289,491 total area SF, 7% office finish
  • Constructed in 1994, tilt up construction
  • 49 loading docks, 5 drive-in doors, 26’ clear height
  • 182 car parking stalls

2120 Westbelt Drive Fully Leased

  • Single-tenant
  • 112,026 total area SF, 4% office finish
  • Constructed in 1979, tilt up construction
  • 7 loading docks, 1 drive-in door, 2 rail doors, 21’ clear height
  • 103 car parking stalls

2161 Dividend Drive Fully Leased

  • Single-tenant
  • 52,000 total area SF, 31% office finish
  • Constructed in 1979, tilt up construction
  • 5 loading docks, 1 drive-in door, 21’ clear height
  • 53 car parking stalls

1999 Dividend Drive Fully Leased

  • Single-tenant
  • 81,560 total area SF, 4% office finish
  • Constructed in 1979, tilt up construction
  • 11 loading docks, 1 drive-in door, 7 rail doors, 21’ clear height
  • 22 car parking stalls
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