The Hub at London Groveport, a 1.6M SF industrial portfolio, sold to EQT Exeter

CHICAGO, Oct. 24, 2024 – JLL Capital Markets announced today the sale of The Hub at London Groveport, a four-building, 1,590,495-square-foot industrial portfolio and a 6.68 trailer parking lot in Columbus, Ohio.

JLL represented the sellers, Xebec and Heitman, in the transaction. EQT Exeter purchased the portfolio.

Located in the Columbus suburb of Lockbourne, Ohio, the properties include a 1,059,000-square-foot cross-dock facility at 6201 Collings Drive, a 231,660-square-foot rear-load building at 1260 London Groveport Road, a 163,520-square-foot rear-load building at 6322 Collings Drive, a 136,315-square-foot rear-load building at 1302 London Groveport Road and a 6.68-acre trailer parking lot.

Completed in 2020, the Class A portfolio was 91% leased at close to two tenants.

The assets are strategically positioned in the Columbus' Southeast submarket, adjacent to Rickenbacker International Airport – one of the world's largest cargo-dedicated airports that operate 24/7 to handle over 30 million pounds of cargo monthly. This prime logistics location provides immediate access to major transportation networks: the portfolio is situated just 4.6 miles from the Columbus Beltway, 7.1 miles from I-71 and 10.7 miles from I-70. The central geography allows access to 46% of the U.S. population within a 10-hour truck drive.

The JLL Investment Sales and Advisory team was led by Industrial Group Co-Lead and Senior Managing Director John Huguenard, Capital Markets Americas President Jody Thornton, Managing Director Ed Halaburt and Director William McCormack.

"We want to thank Xebec and Heitman for the opportunity to represent them in the sale of their portfolio," said Huguenard. "JLL has a strong conviction in Columbus industrial market fundamentals, and we want to congratulate EQT Exeter on another strategic acquisition of assets that are well-suited to continue their strong performance."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Since inception, Xebec has acquired and developed, redeveloped or repositioned industrial and logistics real estate projects totaling nearly 9.1 million square feet, and currently has 31 projects totaling approximately 12.9 million square feet in various stages of development. Xebec is modernizing our nation’s supply chain with properties ready for today’s tenants, anchored by a growing list of institutional capital relationships. For further information, visit xebecrealty.com

Heitman is a global real estate investment management firm with nearly $50 49 billion in assets under management as of June September 30, 2024. Founded in 1966 and headquartered in Chicago, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly-traded real estate securities.

EQT Exeter is a global real estate investment manager with over $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 450 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter's track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.