Ill. real estate firm continues to invest in region with purchase of Dayton industrial property

An Illinois real estate company has acquired an industrial property in Dayton, it announced Monday.

CenterPoint acquired the two-building complex at 10 Corn Road, which includes 295,000 square feet of warehouse space on 34 acres. The property is leased long-term to an undisclosed national beverage company serving the Northeast from the site, CenterPoint said in a news release.

Financial terms were not disclosed.

“We’re very excited to add this to our (Exit) 8A portfolio,” CenterPoint Investment Officer Bryan Won said in a prepared statement. “The property’s unique features make this a highly attractive investment because it can cater to a myriad of industrial uses, from food and beverage applications to traditional distribution, in a market where there is virtually no availability.”

CenterPoint now has $1.7 billion invested in 33 properties, including nearly 7.5 million square feet of warehouse space, in the New York/New Jersey region, it said.

“10 Corn Road is well located within the 8A submarket, and it sits on a parcel that affords us expansion flexibility long-term,” Senior Vice President of Investments P.J. Charlton said in a statement. “This is our sixth acquisition in the New Jersey/New York City metro area in the last 12 months. The region is clearly one of the hottest industrial markets in the country.”

JLL’s team of Marc Duval, Jordan Avanzato and Jose Cruz brokered the transaction.