Iconic’s Industrial Portfolio and Warehouse Development Pipeline Now Totals Over $250 million in Total Capitalization Spanning 5 States in Under Two Years.
MIAMI--April 4, 2023--Iconic Equities (“Iconic”), a real estate investment and development firm focused on industrial assets, announced today that it has acquired a 322,840 square feet Class B industrial warehouse on 23 acres of property in southeast Columbus, Ohio.
Located at 3275 Alum Creek Drive, the property is within minutes from I-70, as well as two leading intermodal facilities, the CSX Intermodal and Norfolk Southern Rickenbacker Intermodal. The property is centrally located in the city and within a 10-hour truck drive to half of the U.S. population and a third of the Canadian population. The acquisition is Iconic’s second in Columbus in the past year, and follows its acquisition of a 56,784 square foot industrial warehouse on 15 acres located at Advanced Avenue.
“We are excited to grow our portfolio in Columbus and acquire another logistics asset in the market that serves as a top distribution hub for the Midwest. Out of any Midwestern market, we have the most conviction in Columbus, given the recent manufacturing momentum from Intel, Honda, and others,” said Tim Bishop, Founder and CEO of Iconic Equities. “We have a strong and growing pipeline of opportunities to convert underutilized properties into industrial hubs to add mission-critical infrastructure into the U.S. supply chain.”
Iconic recently entered into a programmatic joint venture with a large institutional capital partner to acquire Industrial Outdoor Storage (IOS) throughout the country and has acquired several assets in that vertical in the past year. They have acquired sites in the Inland Empire, South Florida and Columbus, which they are currently developing.
Iconic is developing a 780,000 square-foot project alongside Trinity Capital Advisors in Charleston. The project encompasses a 621,000 square foot, cross-dock facility and a 158,000 square foot, rear-load facility. JLL is handling the leasing of the properties, the company said.
About Iconic Equities
Iconic Equities acquires, develops and manages Industrial real estate with a specialization in Industrial Outdoor Storage (IOS), Light Industrial, Warehouse Development and Cold Storage. For more information, please visit: http://www.IconicEquitiesGroup.com.