The Pizzuti Companies and their partner, PCCP, LLC, have announced a new lease at Rickenbacker West Industrial Center in Columbus, Ohio.
An undisclosed large beverage distributor has leased the entire 802,390 square foot speculative building, making this the largest speculative deal completed in the Columbus market in 2018.
Relocating from their current 700,000 square foot facility, the tenant was seeking a larger space with the ability to accommodate future growth, as well as a Class A facility with modern amenities. Construction began on Rickenbacker West I in the fall of 2018 and the tenant is expected to occupy the space in April 2019.
Rickenbacker West I is located on a 51.08-acre site and offers expansion capabilities of one million square feet. The Pizzuti development offers the advantages of a great location and the highest level of architectural design and construction standards. The building features include 36-foot clear heights, 300 trailer spaces and LED lighting throughout the warehouse.
“We are pleased to welcome our first spec tenant to Rickenbacker West,” said Phil Rasey, Vice President of Development for The Pizzuti Companies. “The lease was signed at building completion, which shows not only the strength of this particular project, but the strength of the overall Columbus market.”
Rickenbacker West Industrial Center boasts a prime location 1.5 miles south of Interstate 270 off of Alum Creek Drive, located within a Community Reinvestment Area, providing a 15-year 100 percent real estate tax abatement. Strategically located adjacent to CreekSide Industrial Center, another Pizzuti development, the parks represent the next generation in industrial and distribution centers.
“With a terrific location within 500 miles of 60 percent of the U.S. population and a strong workforce, Columbus is uniquely positioned to attract Fortune 500 companies that are looking to expand or relocate their distribution operations,” said Joel S. Pizzuti, President and Chief Operating Officer at The Pizzuti Companies.
“For over 40 years The Pizzuti Companies has developed speculative warehouses, build-to-suit projects and master planned parks around the country.” Pizzuti added. “We are committed to Columbus and look forward to continuing development in the Rickenbacker area.”
Pizzuti’s 280-acre master planned Rickenbacker West Industrial Center includes a 1.6 million square foot build-to-suit for Whirlpool; a 650,000 square foot PetSmart Distribution Center and a 300,000 square foot ANDA Pharmaceutical facility.
The CBRE team of Michael Mullady, Jeff Lyons, Matthew Lehman and Joseph Kimener brokered the deal on behalf of both The Pizzuti Companies and the tenant.
Approximately 40 acres of land remains available at Rickenbacker West. For information on development opportunities, contact Phil Rasey at 614.280.4008 or email@example.com.