Land near CVG sold for $3.1M to be developed

Land near CVG sold for $3.1M to be developed

Cincinnati Business Courier- Deal of the Week

Property name: Lakeland Business Center

Buyer: IDI Logistics LLC

Seller: Lakeland Farms LLC

Listing broker, firm: Jeff Eichhorn, Henkle Schueler/CORFAC International

Buyer’s broker, firm: N/A

Purchase price: $3.1 million

Deal closed: Feb. 14, 2020

Description of property: More than 31.4 acres of land in Boone County near Cincinnati/Northern Kentucky International Airport

Address: 1725 Lakeland Park Drive, Burlington 41005

Behind the deal: Schueler Group has been working with IDI Logistics to help expand its operations in Northern Kentucky. IDI, one of the largest industrial developers in North America, will construct a speculative 330,000-square-foot distribution center to take advantage of the proximity to CVG. In addition to the future warehouse, Lakeland Park Drive will be extended by approximately 800 feet. Construction services will be provided by Bunnell Hill Construction/Schueler Group. Nearly 80 acres remain and are available for future development and sales within the Lakeland Business Center.

Deal of the Week examines a recent noteworthy lease or sale of local commercial property and/or a residential sale; the transaction must exceed a minimum of $1 million.

This article originally appeared on the Cincinnati Business Courier site.

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