Columbus Industrial Asset Trades for $32M
Würth Industry North America has acquired a 472,000-square-foot industrial asset in Columbus, Ohio, with the potential for a future expansion of 500,000 square feet. MSC Industrial Supply sold the property for $32 million, according to CommercialEdge data.
The acquisition is part of a $42.5 million investment plan by Würth, which is set to expand the company’s distribution network. The firm supplies production materials and metalworking products, among others, and plans to utilize the building to stock a full assortment of items.
MSC vacated the facility during 2024’s third quarter, according to a report by Colliers. Since then, the City of Columbus worked to attract new business, Mayor Andrew Ginther said in prepared remarks.
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The city proposed a five-year, dual-rate Jobs Growth Incentive Agreement with Würth, a bulletin shows. Under this agreement, the local government would make payments based on the number of new employees, among other criteria. Würth pledged to create up to 160 new full-time jobs.
Located on more than 70 acres at 1568 Georgesville Road, the 2013-built property is roughly 10 miles southwest of downtown Columbus. Thoroughfares such as U.S. Route 40 and Interstate 270 can be found within about 3 miles, while the Bolton Field airport operates less than 2 miles away.
Columbus’ robust industrial investment
Metro Columbus’ industrial sales volume wrapped up 2024 at $989 million, according to the latest CommercialEdge report. Assets traded on average for $79 per square foot last year, below the national average of $129 per square foot. Other Midwestern markets fared better, such as the Twin Cities ($95 per square foot) and Chicago ($92).
The Hub at London Groveport’s phase one was among the industrial assets that traded last year. EQT Exeter purchased the 1.6 million-square-foot collection from a joint venture between Xebec and Heitman.
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