The Colliers International|Ohio Investment Team and Columbus Industrial Team closed on the Orange Point Portfolio, a six-property industrial portfolio. The portfolio totals 591,695 square feet across five locations with a combined occupancy level of 93.7 percent. Four properties are located in the Cincinnati market and two are located in Columbus.
The buyer, Plymouth REIT, is a Boston-based real estate investment trust focused on the acquisition and operation of single and multi-tenant industrial properties located in secondary and select primary markets across the United States. They currently own and manage 56 properties containing 83 buildings with more than 12 million square feet in ten states.
The sales price of the deal was $35.5 million.
The members of the Colliers brokerage team that helped close this deal are Steve Timmel, Jeff Johnston, Chris Prosser, Will Roberts, Matt Smyth and Jonathan Schuen.