Dermody Properties Develops Industrial Facility in Cincinnati
- Oct 12, 2016
Cincinnati—Dermody Properties has recently commenced the construction of its second industrial facility, known as LogistiCenterSM at 275 #2. Hillwood, a Perot company, is Dermody Properties’ strategic financial partner on the project. United Construction Co. is the general contractor and Jeffrey Bender and David Kelly of Cushman & Wakefield are representing the development on behalf of Dermody Properties.
The e-commerce compliant facility is located at 3521 Point Pleasant Rd. in the Greater Cincinnati market, an area with more than 227 million square feet of industrial space. Upon completion, the 264,000-square-foot building will feature 32-foot clear height, 27 dock doors, 228 car-parking stalls and 70 trailer stalls. It is ideally suited for e-commerce, manufacturing and distribution operations.
LogistiCenterSM at 275 #2 is the second phase of a two-phase project in the Northern Kentucky market for Dermody Properties and Hillwood. The facility is surrounded by national companies including Amazon, DHL, General Electric, Levi Strauss, Toyota and Wayfair. Last year, the companies completed Phase 1, an 898,560-square-foot fulfillment center, known as LogistiCenterSM at 275 for Wayfair Inc., one of the world’s largest online destinations for home furnishing and décor. Dermody Properties and Hillwood leased both sites from CVG, one of the three global super-hubs for DHL, a top 10 cargo airport in North America.
“These kind of projects create win/win/win opportunities for the airport, the community and developers. The airport receives new revenue streams, which lowers the cost of operations for airlines and tenants, the community sees job growth and economic development and Dermody Properties and Hillwood have access to over 75 percent of the U.S. population within 600 miles of the airport,” said Candace McGraw, chief executive officer at CVG, in a prepared statement.
Image courtsey of Dermody Properties