Opus Group Building Spec Warehouses

The Opus Group, a family of commercial real estate development, construction and design companies headquartered in Minneapolis, will be building two new industrial warehouses in West Chester and Fairfield, Ohio. The company has not disclosed the cost of the projects, but it is likely a more than $15 million development.

In an exclusive Cincinnati Business Courier article, Andy Finn, vice president of acquisitions and investments for Founders Properties LLC, which will own the properties, said both buildings will break ground soon, and neither has a signed tenant, yet. "There's just not a whole lot of options if you're 75,000, 100,000 square feet and want to move into brand-new class A space," Finn told the paper. Founders Properties also purchased the two existing building in Port Union Commerce Park.

According to the report, Opus Group will provide construction and development services for the project. The nearly 548,000-square-foot industrial building will be located at 4350 Port Union Road in West Chester, while the 260,000-square-foot building will be located at 4250 Port Union Road in Fairfield. Finn expects both buildings to break ground soon and be delivered by late summer or early fall 2015.

For more news and information visit Blumberg Capital Partners.

Exeter Buys SK Food Warehouse for $21M

Exeter Property Group, a Plymouth Meeting, PA-based real estate investment management firm, has picked up an industrial warehouse in Groveport, OH for $21 million, according to public records. Terms of the deal were not disclosed, but it is known that CBRE Group agents Rick Trott and Michael Mullady led the regional marketing efforts on behalf of the seller, Opus Group.

The Opus Group leased the last of the space this past march to SK Food Group, which occupies 180,000 square feet at the Rickenbacker 7 property within the Opus Business Center in Groveport, according to a Columbus Business First article. Located between Alum Creek Road and Swisher Road, the 496,156-square-foot property at 3301-3361 Toy Road also serves as a distribution facility for Union Supply Group. Building features include a clear height of 36 feet, column spacing of 48 by 50 feet and an ESFR sprinkler system.

Opus has worked the Columbus industrial market since 1994 when it built a 509,000-square-foot, build-to-suit distribution center for appliance maker Whirlpool. It started its first speculative building near Rickenbacker in 1997. It has since built seven distribution centers beyond the former Whirlpool facility with a combined 3.6 million square feet.

For more news and information visit Blumberg Capital Partners.