Edward LaPuma Of LCN Capital Partners Acquires Industrial Property In New Albany For $88.25M

LCN Capital Partners acquired an industrial property at 9885 Innovation Campus Way in New Albany, OH, for $88.25 million. The facility spans 352,012 square feet and occupies 33.05 acres. The price per square foot is $250.70. The property, built in 2022, is leased to Hims & Hers Health Inc. under a 15-year lease with provisions for annual rent escalations.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $88,250,000
• Address: 9885 Innovation Campus Way
• Market: New Albany, OH
• Asset Size: 352,012 SF
• Price Per Square Foot: $250.70
• Seller: Ted Pick - Morgan Stanley Real Estate Investing; Scott Nudelman - Vitrian
• Buyer: Edward LaPuma - LCN Capital Partners
• Lease Type: 15-year lease with annual rent escalations
• Tenant Investment: $200 million in buildout
• Acreage: 33.05 acres

Edward LaPuma represents LCN Capital Partners in this transaction, while Ted Pick and Scott Nudelman represent Morgan Stanley Real Estate Investing and Vitrian, respectively. The involvement of these entities highlights the collaboration across major investment firms in securing significant commercial property assets.