JLL Capital Markets arranged the JV Equity for the fully occupied industrial property
News release
08 June 2023
$5M in JV equity arranged for a $12.7 industrial warehouse purchase in Columbus, Ohio
MORRISTOWN, N.J., June 8, 2023 – JLL Capital Markets announced today that it has sourced the joint venture equity for the $12.7 million purchase of 3275 Alum Creek Drive, a Class B, industrial warehouse totalling 322,840 square feet in Columbus, Ohio.
JLL worked on behalf of the operators, Iconic Equities to arrange the joint venture partnership with a U.S. focused real estate private equity firm.
The JLL Capital Markets team was led by Managing Directors Marc Duval and Ed Halaburt, and Director Jason Lundy, along with Managing Director Jordan Avanzato and Director Nick Stefans.
The fully occupied industrial warehouse is situated on 22.62 acres in Southeast Columbus, on one of the city’s main thoroughfares that feeds into the Rickenbacker submarket.
“The property’s functionality make it a highly sought after industrial facility”, said Ed Halaburt. “The location in the Rickenbacker submarket underscores the assets desirability and its importance to the supply chain and consumers.”
As the 14th largest city in the U.S. and the fastest growing city in Ohio, Columbus has grown into a dominant Midwest presence. Located in the heart of the country, Columbus is within a one-day truck drive or a one-hour flight to nearly 60% of the U.S. and Canadian populations, 44% of the U.S. corporate headquarters and 44% of U.S. manufacturing employment.
“Industrial product, irrespective of the difficult capital markets environment, continues to attract capital no matter the deal size,” Duval said. “We’re looking forward to seeing the new partnership execute the business plan and grow into more assets together.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.