CBRE begins leasing efforts for 23 North Industrial Park in Lewis Center, Ohio
Development has commenced on a new two-building industrial complex in the Columbus, Ohio, area, introducing additional speculative industrial space to a market where such projects have become less common in recent years.
Summit Real Estate Group, headquartered in Missouri, has started construction on 23 North Industrial Park in Lewis Center, a growing suburb located north of Columbus. The development will span a total of 316,800 square feet and include two facilities measuring 172,800 square feet and 144,000 square feet at 7046 Green Meadows Drive. Completion is anticipated before the end of the year.
Strategically positioned near Interstates 71 and 270, the site offers convenient transportation access and places tenants within a 30-minute commute of approximately 585,000 workers. According to project marketing materials, the surrounding industrial corridor is experiencing population growth at a rate nearly five times higher than the national average. Future occupants may also benefit from tax abatements available for up to 15 years.
Columbus remains one of the region’s strongest-performing industrial markets. While speculative industrial construction slowed considerably over the past 18 months after reaching record highs in 2022 and 2023, recent market conditions have encouraged new development activity. A tightening availability rate has contributed to an increase in construction starts, and speculative projects are once again gaining momentum alongside major data center and build-to-suit developments.
The industrial park is being designed to accommodate logistics, manufacturing, and distribution operations. Features will include 32-foot clear heights, ESFR fire suppression systems, high-efficiency LED lighting, numerous dock-high loading positions, dedicated trailer parking, and tilt-up concrete construction. Flexible floor plans will allow spaces to be divided from approximately 25,000 square feet, providing options for a variety of tenant requirements.
For the Record:
CBRE brokers Jeff Lyons, Nick Tomasone, Shane Ellis, and Kilar Mariotti have been appointed to market the available space for lease at the development.
Source: Original reporting by Gregory Woody, CoStar News.
