Cushman & Wakefield Arranges Sale of Ohio Logistics Park
- Nov 09, 2020
Cushman & Wakefield has arranged the sale of Marion Industrial Center, a 1.5 million-square-foot logistics property in Marion, Ohio. Jaguar Transport Holdings acquired the warehouse complex from a private investor who had owned it for the past 45 years, according to The Marion Star.
The brokerage team that negotiated on behalf of the seller included Managing Director Whitney Kerr Jr., along with Michael Flynn, Director of Cushman & Wakefield’s Rail Advisory Group, and Director Mike Hurd. Partnering with the agency on the deal was Grant Tidemann, vice president of J.P. Weigand Commercial.
Located at 3007 Harding Highway E., the property occupies 511 acres. The site includes 300 acres of vacant land, which could be used for future industrial development. The buildings have dozens of dock-high doors and 95 percent of the warehouses have rail access. The property is 3 miles from Marion Airport and 49 miles north of downtown Columbus.
The park features 10 miles of private rail with a direct switch on to the CSX rail network, as well as third-party logistics services including its own transportation company, vehicle storage and a rail car repair facility. The tenant mix includes more than 50 companies, such as Saddle Creek, Sika Corp. and Boise Cascade Building Materials.
Earlier this month, Cushman & Wakefield facilitated the $30 million sale of 22 Stauffer Industrial Park Drive, a 711,200-square-foot warehouse in Taylor, Pa. The company was the sole broker in the deal.