Columbus

The Columbus industrial portfolio contains three infill assets in Columbus’s West submarket, two assets in the Southeast submarket, and one asset in the Rickenbacker submarket. The six buildings total 1,054,072 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.

 

1655 Watkins Rd — Columbus, OH Current Availability

  • Multi-tenant
  • 229,371 total area SF
  • Constructed in 1978, masonry construction
  • 19 loading docks, 2 drive-in doors, 23’ clear height
  • 277a/480v 3-phase power

1675 Watkins Rd — Columbus, OH Current Availability

  • Multi-tenant
  • 289,624 total area SF
  • Constructed in 1974, masonry construction
  • 34 loading docks, 2 drive-in doors, 26’ clear height
  • 277a/480v 3-phase power

2120 Westbelt Dr — Columbus, OH 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

1999 Dividend Dr — Columbus, OH 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

2161 Dividend Dr — Columbus, OH 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

2221-2303 John Glenn Ave — Columbus, OH Sold

  • 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
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