Dermody Properties in a joint-venture with Hillwood Investment Properties will develop an 898,560-square-foot facility for Wayfair Inc. in Erlanger, Kentucky, in the Cincinnati/Northern Kentucky market.
Wayfar is an online retailer of home furnishings and decor. The facility will be located on a 52-acre site at 1600 Donaldson Road in Erlanger, adjacent to the Cincinnati/Northern Kentucky International Airport. Dermody Properties and Hillwood leased the land site from CVG earlier this year.
The facility, known as LogistiCenter at 275, will be the largest single development by square footage in the history of Dermody Properties. It is the company’s third development in the Kentucky market.
DTZ served as the tenant broker, representing Wayfair. Paul Hemmer Company is the general contractor on the project. Construction is expected to be complete in the second quarter of 2016. Upon completion, LogistiCenter at 275 will be one of the largest developments in the region and the largest speculative development in the history of CVG.
