The Opus Group will develop a 484,216-square-foot speculative industrial warehouse building at Opus Business Center at Rickenbacker in Groveport, Ohio. Construction for Building 8 began this month.
“Low vacancy rates and steady demand in the Columbus industrial market are creating a need for new large, flexible industrial spaces,” said Douglas Swain, vice president and general manager of Opus Development Company, L.L.C., in a written statement. “We are excited to build upon our prior success by developing Building 8 in a prime location for a modern bulk distribution center.”
Located on 28.74 acres, the building will accommodate parking for 200 cars and 50 trucks with room to add additional parking. The building also features a 32-foot clear height and 2,500 square feet of office space, which will be constructed with the shell allowing for quick tenant occupancy. Situated in a Community Reinvestment Area, Building 8 will qualify for 100 percent real property tax abatement for 15 years.
Opus has developed seven industrial buildings at Opus Business Center at Rickenbacker totaling 3.6 million square feet. Building 8 is scheduled for completion in November 2014.
Opus Business Center at Rickenbacker 8 will be owned by a joint venture partnership between Opus Development Company, L.L.C. and Founders Properties, L.L.C. Opus Development Company, L.L.C. will be the developer, Opus Design Build, L.L.C. will be the design-builder and Opus AE Group, L.L.C. will be the architect and engineer of record.