CBRE: Adena Corporation Completes 160,000-SF Speculative Manufacturing/Warehouse Facility in Mansfield, Ohio

CBRE has announced that Adena Corporation has completed construction on Airport West, a 160,000-square-foot speculative manufacturing/warehouse facility situated on 15 acres in Mansfield, Ohio.

Located at the intersection of Bowman Street and Cairns Road, the facility features 32’ clear height, 17 docks, eight drive-in doors, a 36-space concrete parking lot and 1,400 square feet of office space. It is adjacent to Mansfield Lahm Regional Airport and a short drive to I-71, making it easily accessible to Columbus Cleveland and Chicago.

Weston Devore with CBRE in Columbus is handling the marketing and leasing of the project.

“The Columbus and Central Ohio industrial markets have seen robust demand from users and developers alike for the past five years,” said CBRE’s Weston Devore. “With industrial real estate at a sub 2 percent vacancy, users’ main drivers for choosing a site tend to include immediate access to the interstate, amenities, and a vast labor pool. Airport West checks all of these boxes.”

“Mansfield, Ohio is looking forward to welcoming a new business to Airport West Building 1!” said Barrett Thomas, Economic Development Director at the City of Mansfield. “This large flexible building with additional land to expand also has impressive utility capacities available and a skilled workforce to support your new business growth.”

“Adena Development is optimistic with all the positive business momentum occurring in and around Richland County,” said Randy Payne, President, Adena Corporation. “This momentum coupled with the investment in the Mansfield Lahm Airport, and highway infrastructure, make this industrial park a prime choice for businesses looking to relocate to this region.”

The Central Ohio industrial market registered 2.6 million square feet of positive net absorption during the second quarter of 2022, according to CBRE Research. Overall vacancy and modern bulk vacancy are down significantly year-over-year, to 1.8 percent and 2.1 percent, respectively. Leasing activity continues to outpace previous years, despite record-low vacancy and availability rates. The second quarter of 2022 recorded over 6.2 million square feet leased throughout the Central Ohio market.