Atlanta-based real estate investment company buys first Cincinnati property for $36 million August 16, 2021

An Atlanta-based real estate investment company has purchased its first property in Ohio with a Greater Cincinnati acquisition.

MDH Partners LLC purchased Harrison Distribution Center, a more than 580,000-square-foot industrial facility located at 9555 Dry Fork Road in Harrison. MDH Partners bought the property on Aug. 11 for $36 million.

Houston Hawley, vice president at MDH Partners, said the purchase of Harrison Distribution Center is “an incredibly important milestone” for the company.

“Cincinnati is one of the most centrally located industrial markets in the country, with 60% of the United States population within a one-day drive – making Harrison Distribution Center an especially attractive asset,” Hawley said in a news release. “We look forward to expanding our portfolio even further throughout the Midwest, as we search for strategic investments that fall in line with our sustainable practices and value-add approach.”

The distribution center is fully leased by Hubert Co., one of the nation’s largest business-to-business distributors of food service supplies and food merchandising displays.

Built in 1990, Harrison Distribution Center is located on more than 27 acres and features 37 dock doors, 28-foot to 32-foot clear heights and 396 car and trailer parking spaces. The property has a large solar array consisting of more than 3,800 solar panels. The class A warehouse is LEED silver certified.

With the addition of Harrison Distribution Center, MDH Partners’ portfolio includes 2 million square feet of LEED certified and LEED silver buildings.

Harrison Distribution Center was purchased in July 2020 by an affiliate of Lightstone Group for $25 million, according to property records.

Susan Annis and Josh Peck with GFI Realty Services, an affiliate of GFI Capital, brokered the transaction.

MDH Partners is a real estate investment company managing its discretionary funds targeting industrial real estate across the U.S. on behalf of its institutional investors. Founded in 2005 as the successor to a 50-year-old local real estate development company, MDH Partners has led and/or participated in more than $4 billion, or 75 million square feet worth, of acquisitions, developments and asset management as an advisor and investor.

 

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