April 26, 2024
NorthPoint Opens 625 KSF Ohio Facility – What is a Ground Lease?, Robert Khodadadian
NorthPoint Opens 625 KSF Ohio Facility - What is a Ground Lease? <!-- wp:html --><div class="wp-caption alignright"><a href="https://www.commercialsearch.com/news/wp-content/uploads/sites/46/2023/02/Legrand_announces_opening_in_Dayton-e1677500412853.jpg" target="_blank" rel="noopener"></a> <p class="wp-caption-text">2200 Douglas Way. Image courtesy of Legrand</p> </div> <p><strong>NorthPoint Development</strong> has opened a 625,000-square-foot facility in Union, Ohio. The new distribution center is occupied and operated by <strong>Legrand</strong>, which will add more than 200 new jobs in the Dayton area and will enhance the electrical and digital solutions company’s shipment capabilities across the U.S.</p> <p>According to Montgomery County records, NorthPoint sold the 86-acre development site in September 2022 to <strong>Elm Tree Funds</strong>. The same source shows that <strong>Associated Bank</strong> provided a construction loan in the amount of $32.7 million.</p> <p>Located at 2200 Douglas Way, the property is close to State Route 40 and Interstate 70, providing access to Columbus and Cleveland, 3.4 miles from Dayton International Airport. Legrand’s new location is within NorthPoint’s Park 70/75, a master-planned, 400-acre industrial development, according to <em>Dayton Business Journal</em>. The project is set to feature some 6 million square feet of industrial space.</p> <p>Legrand’s new facility will support the company’s commitment to sustainability and is expected to receive a Green Globes Level One certification. Additionally, the property’s central location, in conjunction with the firm’s existing Southern and West Coast distribution centers, will ensure a carbon emission reduction.</p> <p>Ohio’s commitment to amp up manufacturing operations resulted in large projects launching, including Honda Motor Co. and LG Energy Solution’s upcoming <a href="https://www.commercialsearch.com/news/honda-lg-to-build-3-5b-ohio-battery-plant/">$3.5 billion battery plant</a> in Fayette County. Completion of the $3.5 billion project is estimated by the end of 2024.</p> <p>In September 2022, Intel commenced construction on <a href="https://www.commercialsearch.com/news/intel-breaks-ground-on-20-billion-ohio-chip-factories/">two manufacturing plants</a> in Licking County. Production is expected to begin as soon as 2025.</p> <p>The post <a href="https://www.commercialsearch.com/news/northpoint-opens-625-ksf-ohio-facility/">NorthPoint Opens 625 KSF Ohio Facility</a> appeared first on <a href="https://www.commercialsearch.com/news">Commercial Property Executive</a>.</p> <p>  Columbus, Development, Industrial, Midwest, News, Associated Bank, ElmTree Funds, Legrand, NorthPoint Development </p> <p>ground lease, ground leases, net lease, ground leases 101, ground lease nyc, skyline properties, skyline properties nyc, Robert Khodadadian, investment sales, broker, commercial real estate, skyline properties, commercial real estate, NYC real estate, ground lease, Skyline Properties, Skyline NYC, Skyline Properties NYC, New York City Real Estate, ground leases, commercial buildings, apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties, NYC Real Estate, Real estate investment, commercial real estate, robert khodadadian, skyline properties, ground lease, net lease, investment sales, brokerage, manhattan real estate, off market broker, daniel shirazi, Off-market real estate</p><!-- /wp:html --> Legrand occupies the new distribution center in Union. The post NorthPoint Opens 625 KSF Ohio Facility appeared first on Commercial Property Executive. ground lease ground leases net lease ground leases 101 ground lease nyc skyline properties skyline properties nyc Robert Khodadadian investment sales broker commercial real estate NYC real estate Skyline NYC New York City Real Estate commercial buildings apartment buildings townhouses mixed use investment building mixed use user buildings live plus income buildings industrial properties Real estate investment brokerage manhattan real estate off market broker daniel shirazi Off-market real estate

2200 Douglas Way. Image courtesy of Legrand

NorthPoint Development has opened a 625,000-square-foot facility in Union, Ohio. The new distribution center is occupied and operated by Legrand, which will add more than 200 new jobs in the Dayton area and will enhance the electrical and digital solutions company’s shipment capabilities across the U.S.

According to Montgomery County records, NorthPoint sold the 86-acre development site in September 2022 to Elm Tree Funds. The same source shows that Associated Bank provided a construction loan in the amount of $32.7 million.

Located at 2200 Douglas Way, the property is close to State Route 40 and Interstate 70, providing access to Columbus and Cleveland, 3.4 miles from Dayton International Airport. Legrand’s new location is within NorthPoint’s Park 70/75, a master-planned, 400-acre industrial development, according to Dayton Business Journal. The project is set to feature some 6 million square feet of industrial space.

Legrand’s new facility will support the company’s commitment to sustainability and is expected to receive a Green Globes Level One certification. Additionally, the property’s central location, in conjunction with the firm’s existing Southern and West Coast distribution centers, will ensure a carbon emission reduction.

Ohio’s commitment to amp up manufacturing operations resulted in large projects launching, including Honda Motor Co. and LG Energy Solution’s upcoming $3.5 billion battery plant in Fayette County. Completion of the $3.5 billion project is estimated by the end of 2024.

In September 2022, Intel commenced construction on two manufacturing plants in Licking County. Production is expected to begin as soon as 2025.

The post NorthPoint Opens 625 KSF Ohio Facility appeared first on Commercial Property Executive.

 Columbus, Development, Industrial, Midwest, News, Associated Bank, ElmTree Funds, Legrand, NorthPoint Development 

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