PCCP, Pizzuti Kick Off 539 KSF Facility in Ohio
- Sep 19, 2019
PCCP and The Pizzuti Cos. have joined forces for a second time to develop a speculative industrial project in southeast Columbus, Ohio. The two companies first partnered for the development of Rickenbacker West I, an 802,390-square-foot speculative building at 1827 Beggrow St. in the Rickenbacker West Industrial Park.
Dubbed Rickenbacker West II & III, the new complex will be located adjacent to CreekSide Industrial Center—an international, multimodal logistics hub around Rickenbacker International Airport and the new Norfolk Southern intermodal terminal. The Class A industrial facility is fully entitled, and construction is currently underway.
Upon completion, slated by mid-2020, Rickenbacker II & III will consist of two buildings totaling 539,094 square feet on nearly 40 acres. Specifically, the 277,692-square-foot Rickenbacker II will occupy nearly 17 acres, and the 261,402-square-foot Rickenbacker III will be situated on nearly 23 acres. Both developments will feature 32-foot clear heights, secure truck courts, ESFR sprinkler system, LED warehouse lighting and ample car and trailer parking.
Pizzuti has developed more than 12 million square feet of industrial product within the Rickenbacker submarket, the region’s largest industrial submarket, counting 78 million square feet. The company built more than 50 million square feet of industrial, office, hospitality, retail and residential developments across the Midwest and Southeast regions of the U.S.
The greater Columbus industrial market totals more than 244 million square feet and counts nine consecutive years of positive net absorption. Its abundant workforce, low cost of labor, favorable real estate tax abatement programs paired with optimal positioning which enables to access 60 percent of the U.S. within a one-day drive, are drawing institutional capital.