Commercial real estate investor and developer Comunale Properties has acquired the industrial building at 3705-3711 Parkway Lane in Hillard, Ohio. The acquisition is Comunale’s second investment in Columbus and continues the company’s strategy of acquiring well-located, infill industrial assets in high-growth markets across the U.S.
Ray Boll and Jeff Boll of RJ Boll Realty represented the property seller. Comunale was unrepresented. Located in the Hillard submarket of West Columbus, the property sits immediately off a major interchange with I-270, offering easy access to the Columbus highway system. The area is known for its limited industrial supply, leading to a low 1.5 percent vacancy rate.
The property seller will lease back a portion of the property’s warehouse space on a short-term basis while relocating its operations. Immediately upon acquisition, Comunale leased the remainder of the property to a leading national mechanical, fire protection and HVAC company that will eventually occupy the entire premises.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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Read MoreConnect CRECommercial real estate investor and developer Comunale Properties has acquired the industrial building at 3705-3711 Parkway Lane in Hillard, Ohio. The acquisition is Comunale’s second investment in Columbus and continues the company’s strategy of acquiring well-located, infill industrial assets in high-growth markets across the U.S. Ray Boll and Jeff Boll of RJ Boll Realty represented …
The post Comunale Properties Expands with Ohio Industrial Buy appeared first on Connect CRE.