The Schueler Group has done it again! We were recently featured in the Cincinnati Business Courier as their Deal of the Week. One of our repeat clients, IDI Logistics, has chosen a prime lot from our portfolio of industrial properties for sale – a 31-acre plot at our Lakeland Business center. Our own Jeff Eichhorn, one of our most experienced commercial real estate brokers, was the listing agent for this $3 million deal. IDI Logistics wants to expand its presence into Northern Kentucky, and our Lakeland Business Center is a great place to start, with its access to the Cincinnati/Northern Kentucky International Airport and the Southwest OH commercial and industrial markets. The property purchased will be developed by our own in-house commercial construction company, Bunnell Hill Construction, into an extensive warehouse space/distribution center. We’re excited to broker and develop another project like this for IDI logistics; they’re one of the largest players in industrial real estate in all of North America. This warehouse addition at our Lakeland Business Center is going to cement their presence in the Midwest markets, and in turn, it will add jobs and commerce to our local communities.
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.