Stotan Industrial and JV Partners Sell 640,000 SF Building in Groveport Ohio

April 17, 2024

Stotan Industrial announces the sale of Groveport South Logistics Center in Groveport, Ohio.

The 640,000 SF distribution facility located at 3755 Hayes Road was developed through a joint venture with CA Industrial and LaSalle Investment Management, with financing provided by Associated Bank. The property was sold to an undisclosed buyer in the food and beverage industry. The buyer was represented by Phillip Pelok and Joseph Kimener of CBRE. Representing the ownership were Rick Trott and Shelby Gumpf, also of CBRE.

"The sale of this property in the challenging debt markets was a good outcome for ownership. This was also Stotan's first project in the Columbus market which continues to be one of the strongest Midwest markets. We are very pleased with the execution of this project thanks to the collaborative efforts of all involved. Great working with such exceptional partners." - Jim McGill, President - Principal

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