PCCP, LLC Invests in Development of Rickenbacker West II and III

Since 1998, real estate company PCCP, LLC, has raised, invested, and managed more than $20.5 billion of institutional capital. Continuously pursuing investment opportunities with proven operators, PCCP, LLC formed a joint venture with the Pizzuti Companies for the development of Rickenbacker West II and III located in Columbus, Ohio. Rickenbacker West II and III is a two-building, 539,094 square foot industrial complex. The project will be situated adjacent to CreekSide Industrial Center, an international, multimodal logistics hub around Rickenbacker International Airport and the new Norfolk Southern intermodal terminal. Rickenbacker II & III is fully entitled and construction has now commenced with completion anticipated by mid-2020. The 277,692-sf Rickenbacker II building will be situated on 16.91 acres and the 261,402-sf Rickenbacker III will be situated on 22.92 acres. Both facilities will feature 32’ clear heights, secure truck courts, ESFR sprinkler systems, LED warehouse lighting and ample car and trailer parking. The greater Columbus industrial market totals more than 244 million sf and is in the midst of nine straight years of positive net absorption. The market continues to mature and attract institutional capital given its abundant workforce, low cost of labor, favorable real estate tax abatement programs and ability to access 60 percent of the U.S. population within a one‐day drive. The Rickenbacker II & III project is located within the southeast Columbus submarket, the region’s largest industrial submarket at 78 million square feet. Tenants such as Pepsi Co., Amazon, DHL, FedEx, UPS, Whirlpool, Continental Tire, Boars Head and PetSmart all have chosen to locate distribution facilities here, attesting to the strength and strategic benefits of Columbus as a whole and the Southeast submarket specifically.