Summit Real Estate Group is pleased to announce the acquisition of a 22.8-acre industrial site in north Columbus, OH. Acquired on behalf of Summit’s Arrowrock U.S. Industrial Fund V, the Class A industrial development project will be known as 23 North Commerce Center and include two buildings representing approximately 317,000 square feet.
23 North Commerce Center represents the final developable parcel within the master-planned Creekside Industrial Park, strategically located less than 15 minutes from both I-270 and I-71, providing exceptional access across Central Ohio.
The area surrounding the project is defined by affluent demographics, a highly educated workforce, and sustained population and housing growth. Class A industrial vacancy in this submarket remains effectively at zero, reflecting strong tenant demand and a persistent shortage of modern supply. Industrial development in this area has historically been limited by land constraints and competing uses, positioning 23 North Commerce Center as one of the last sites for new Class A industrial construction in North Columbus. A high concentration of long-term industrial users operating primarily in older facilities are located nearby, presenting the opportunity to fulfill flight-to-quality and local expansion demand. Additionally, the project will feature a 50% real property tax abatement, a rare advantage in this area. With these unique attributes, the project benefits from a minimal direct competition in a desirable submarket poised for continued success.
With its flexible design, 23 North Commerce Center can accommodate manufacturing, distribution, and industrial services users ranging from 25,000 SF to 173,000 SF. Building 100 (approximately 144,000 SF) and Building 200 (approximately 173,000 SF) will each feature rear-load configurations, 32’ clear heights, and 130’ truck courts with trailer parking or outside storage available. Construction is expected to begin in Q1 2026, with delivery scheduled for Q1 2027.