Anthony Saladino Of Plymouth Industrial REIT Acquires 21-Building Industrial Portfolio In Ohio For $193M

Plymouth Industrial REIT acquired a 1.95 million square foot industrial portfolio comprising 21 buildings across Columbus, Cincinnati, and Cleveland, Ohio, for $193 million, reflecting a price per square foot of $99. The portfolio is currently 97% leased, and the in-place rents are noted to be 22% below the market, presenting potential for rent increases.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $193,000,000
• Square Footage: 1,950,000
• Price per Square Foot: $99
• Buyer: Anthony Saladino - Plymouth Industrial REIT
• Market: Columbus, Cincinnati & Cleveland, Ohio
• Buildings: 21
• Leased Percentage: 97%
• In-Place Rents Below Market: 22%

The acquisition significantly expands Plymouth Industrial REIT's footprint in Ohio, increasing their total holdings in the region to over 12 million square feet. This transaction was executed at a 25% discount to the estimated replacement cost of the portfolio.