15 Aug IDI Logistics Announces Sale of Cincinnati Area Building to Global Package Delivery and Supply Chain Management Company
SALE MARKS AN EXPANSION IN THE COMPANY’S PRESENCE IN THE CINCINNATI MARKET
ATLANTA (August 15, 2019) – IDI Logistics, a leading investor and developer of logistics warehouses and distribution parks, today announced the sale of one building in the company’s Park South at Richwood complex. The new owner, a well-known global package delivery and supply chain management company, plans to expand its presence in the Cincinnati market by opening a package sort center in the facility.
442,304-square-feet Building I is one of 7 buildings located within the master-planned Park South at Richwood logistics park in business-friendly Boone County, KY. The park offers nearly 5 million square feet of logistics space with just over 1 million square feet still available in Building B. Strategically located along I-75/I-71, Park South at Richwood is in the middle of a growing ecommerce hub and offers access to all Midwestern markets.
“It makes sense for a company focused on package delivery and supply chain to seek out a location like Park South at Richwood,” said Bob Stephens, Market Officer – Cincinnati for IDI Logistics. “The park has attracted logistics users focused on e-commerce fulfillment. The purchase of Building I shows a long-term commitment to the park and the Cincinnati market by this global delivery service company.”
Jeremy Kraus of CBRE represented the buyer in this transaction. Mike Lowe, also of CBRE, represented IDI Logistics.
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IDI Logistics is a leading developer and manager of logistics real estate in the U.S. The fully-integrated logistics platform has a long track record of speculative development, build-to-suits and value-add acquisitions. In its 30-year history, IDI Logistics has developed more than 100 world-class business parks and 750 warehouses totaling over 200 million sf throughout North America.
For more information, please visit our website at www.idilogistics.com