Commercial real estate developer VanTrust Real Estate has begun construction of a 1-million-square-foot speculative warehouse in the Village of Commercial Point, Ohio, near Rickenbacker International Airport.
Located at the intersection of Highway 104 and Highway 762, the project will be the first building built on 178 acres acquired by VanTrust Real Estate earlier this year from K-Nova LLC. The building will be the largest speculative building in the Rickenbacker sub-market and one of the largest warehouses in the region.
The master-planned industrial park will be known as Rickenbacker Exchange at Commercial Point and encompasses more than 900 acres of shovel ready logistics and manufacturing ground. Van Trust’s acquisition can accommodate an additional 1.2 million square feet of warehouses. Adding to the exceptional location is the development’s attractive incentive package, in which all buildings will receive a 15-year, 100 percent real estate tax abatement.
Jack Tzagournis of Fortress Real Estate Companies worked with K-Nova LLC during the successful entitlement process and sale of the site to VanTrust.
Pepper Ohio, a subsidiary of Pepper Construction Group, is in charge of construction, with RED Architecture handling the design. Michael Linder of Colliers International in Columbus is the listing agent.
The first building at Rickenbacker Exchange at Commercial Point marks VanTrust’s eighth speculative industrial building in Central Ohio. Previous developments include four in the Rickenbacker area, one in Grove City, and one in New Albany with a second 253,000-square-foot building delivering December 2020. In addition, the Columbus VanTrust development team is managing a number of additional projects throughout the region, including a 700,000-square-foot building presently under construction in Louisville, and two industrial buildings under construction in Indianapolis.
