Despite the Federal Reserve implementing its eighth interest rate increase last week in a little less than a year, and fears of a potential recession which has given investors pause, NAI Ohio Equities’ brokerage division had a strong January. Overall, our brokerage closed 18 transactions equating to sales or leases totaling more than 502,240 square feet.
Doug Shull represented the Knox County Land Bank on its sale of a 2-acre plot at Lot 4 of the Heartland Commerce Park to Knox Area Transit (KAT) who will use the land to develop a bus depot. The bus depot will be across the street from KAT’s new headquarters. Knox Area Transit said it outgrew its current facility and the move will place it in a more central area of Mt. Vernon with closer proximity to more neighborhoods. As a result, KAT plans to optimize and expand routes in an effort to meet the needs of all of its riders.
The largest transaction this month was a lease at 710 Deer Run Road, a 418,000-square-foot warehouse which was completed by the Industrial Property Team of Curt Berlin, Matt Osowski, and Blake DeCrane who represented the tenant.
Industrial and office transactions again dominated, accounting for 67% of the month’s closed transactions.
Download our complete transaction report below.