Griffin Capital Essential Asset REIT sells industrial building in Ohio

Griffin Capital Essential Asset REIT has sold a 160,410-square-foot, class A truck terminal located at 10 Commerce Parkway, West Jefferson, Ohio for $30.3 million.

“Well-located, state-of-the-art logistics assets like 10 Commerce Highway continue to be highly sought after in the current industrial market,” said Michael Escalante, Griffin Capital Essential Asset REIT’s CEO. “We were pleased to exceed our return expectations through the sale of the property. This positive full-cycle execution demonstrates the success of our active approach to the management of the REIT portfolio.”

The property, occupied by FedEx Freight, was initially purchased by the REIT in July 2015.

The property, situated 21 miles west of Columbus, Ohio, functions as a regional hub for both FedEx Freight Priority service and FedEx Freight Economy service.