Hillwood, Al. Neyer Plan 800 KSF Cincinnati Spec Project
- Sep 23, 2016
By Ioana Neamt
Cincinnati—Hillwood, a Perot company, is teaming with local developer and design-builder Al. Neyer to develop two speculative industrial buildings in Greater Cincinnati. The companies have acquired a 49-acre site at the Hebron Logistics Center on Litton Lane in Hebron, Ky. The site is expected to house two buildings totaling 589,244 and 209,468 square feet, respectively.
“It is really difficult to find developable industrial sites in Greater Cincinnati, especially with such convenient proximity to the airport,” Dan Ruh, senior vice president of real estate development at Al. Neyer, said in a statement.
The new properties will offer easy access to interstates 275, 71, 74 and 471, as well as State Road 237 and the Cincinnati/Northern Kentucky International Airport. The buildings will feature 32- and 36-foot clear heights, cross-dock loading, T-5 lighting and ESFR fire protection systems. Additionally, the assets will provide ample auto and trailer parking space and additional spaces available for future parking.
Construction is set to commence Sept. 26, with completion slated for mid-2017. Mike Lowe, Jeremy Kraus, Doug Whitten and Tim Schenke of CBRE are handling leasing for the project.
“Few metropolitan areas offer our convenient access, affordability, Fortune 500 presence, and capable workforce, and we know this development will present a tremendous opportunity to a number of booming industries,” added Ruh.
This is not Hillwood’s first foray into the Greater Cincinnati real estate market. The company also partnered with Dermody Properties on LogistiCenter@275, a 900,000-square-foot distribution center completed in June and fully leased to Wayfair. The center is located nearby Interstate 275 and the Cincinnati/Northern Kentucky International Airport.
Image courtesy of Dermody Properties