Al. Neyer to build $65 million spec industrial development near CVG

From the Cincinnati Business Courier:

AL. NEYER TO BUILD $65 MILLION SPEC INDUSTRIAL DEVELOPMENT NEAR CVG

Al Neyer plans to develop two speculative industrial buildings next to Cincinnati/Northern Kentucky International Airport.

The downtown-based commercial real estate developer has about 71 acres of land under contract just northwest of CVG between Elijah Creek Road and Petersburg Road in Hebron. There, it plans to develop, design and build a 600,000-square-foot class A bulk distribution center and a 325,000-square-foot industrial building. The total investment for the project would be between $65 million and $75 million.

Ryan Reardon, vice president of real estate development at Al Neyer, said the developer plans to construct both buildings on a speculative basis, meaning they do not have a tenant to take space in them at this point.

“It’s the market demand that we’re seeing, particularly in the airport submarket for this type of product,” Reardon told me. “The demand just continues to be there and be strong.”

The smaller of the two buildings will be a rear-loaded building with 36-foot clear height ceilings. It will 33 docks on the one side, with the ability to add 14 more. The smaller building also will have room for 200 vehicle parking spaces and 55 trailers.

The larger building will have 40-foot clear height ceilings and be cross-docked. It will have 60 docks, with space to add 54 more dock doors, and 314 vehicle parking spaces.

Read more from the Cincinnati Business Courier here.