CBRE Arranges Sale of Fully Occupied 183,178-SF Industrial Property in West Chester, Ohio

CBRE has arranged the sale of a 183,178-square-foot industrial property in West Chester. Plymouth Industrial REIT, Inc., purchased the property from TradeLane Properties for $13 million.

CBRE’s Will Roberts, Steve Timmel and Tim Schenke represented the seller in the transaction.

"TradeLane Properties identified an opportunity in 2022 to physically improve what was already well-located industrial real estate and delivered on their plan to take the building from vacant to fully occupied," said Roberts. "The property was highly sought after during the sale process, which speaks to the unwavering demand from investors for quality industrial deals in today’s marketplace."

The property was the former headquarters of The O’Gara Group and is located at 9113 LeSaint Drive, just 4 miles west of Interstate 75 and 2.5 miles north of Interstate 275, within Cincinnati’s Tri-County industrial submarket. Originally built in 1986 and renovated in 2023, the building features 7 dock doors, 8 drive-ins and significant employee parking capacity on a 10.926-acre site.

The asset was 100% occupied by three tenants at the time of the sale.

According to CBRE Research, the Cincinnati industrial market saw 836,457 square feet of positive net absorption in Q1. Additionally, 2 million square feet of projects are currently under construction, with an expected rise in net absorption as many pre-leased and build-to-suit developments are delivered throughout the year.