Avison Young negotiated the purchase of a 33-acre land parcel located at Innovation Campus Way in New Albany, Ohio. The buyer, Scannell Properties, began construction on the 354,000-square-foot distribution warehouse in August and it is expected to be completed by June of 2022.
Avison Young’s Tom Miles, Industrial Agency Leasing and Land Development Specialist, and Managing Director Scott Pickett, both based in the firm’s Columbus, Ohio, office represented the buyer, Scannell Properties. Miles and Pickett are also the leasing agents for the warehouse, representing Scannell Properties as the landlord.
The Business Park in New Albany is divided into several economic clusters to maximize the utility of each site and to encourage business growth in industries like research and technology, medical, corporate office, and manufacturing. New Albany is already home to companies like Google, Facebook, and AWS.
This will be Scannell’s second project to break ground in the Columbus market. The first Scannell project was a build-to-suit in Etna, Ohio.
MBJ Holdings was the seller.
