VanTrust Real Estate Sells New Albany Tech Park 300 Industrial Facility to Realty Income

JLL Capital Markets announced Oct. 13 the sale of New Albany Tech Park 300, a 300,400-square-foot industrial distribution center at 12550 Jug St. in New Albany, Ohio. JLL represented the seller, VanTrust Real Estate, and Realty Income acquired the asset.

The JLL Capital Markets team was led by Senior Managing Directors John Huguenard and Sean Devaney, along with Managing Directors Ed Halaburt and Kurt Sarbaugh, and Senior Directors Ross Bratcher and Will McCormack.

New Albany Tech Park 300: Property Details

Completed in 2026, the Class A distribution facility is 100% leased to a technology and artificial intelligence company on a long-term basis. The lease carries a 15-year original term, with approximately 4.75 years remaining when the property was marketed for sale. The tenant is Meta Platforms, according to JLL's marketing materials. The property is also subject to a 100% real estate tax abatement for 15 years.

The building features:

• 36-foot clear height
• Fully circulating 135-foot truck courts
• 30 dock doors and four drive-in doors
• 3,600-amp power capacity

JLL said the specifications are engineered to support heavy technology and logistics operations. The property sits in the Columbus metropolitan area, where more than half of both the U.S. and Canadian populations, as well as a substantial portion of U.S. manufacturing capacity, are located within a 600-mile radius.

Columbus Location and Transportation Access

The site offers direct highway connections to major Midwestern hubs and is near John Glenn Columbus International Airport and Rickenbacker International Airport, one of the world's largest cargo-dedicated airports. JLL said the property occupies a position within a technology and advanced manufacturing corridor that has attracted significant corporate and public investment and has become a data center hub. That concentration of high-tech infrastructure, together with the regional labor pool, has spurred demand for nearby industrial support space, according to JLL.

"Columbus has become one of the country's most active data center markets, which is driving incredible demand for the industrial properties that support them," Huguenard said. "VanTrust Real Estate delivered a state-of-the-art facility that serves a vital operational role in the region's expanding technological corridor, making it a highly compelling acquisition for the buyer."

Columbus Industrial Market Conditions

The sale comes as Columbus industrial fundamentals have tightened. In the third quarter of 2026, the market recorded 2.5 million square feet of net absorption, more than 8 million square feet of year-to-date absorption and 10.1 million square feet of leasing activity. Vacancy fell 70 basis points to 4.7%, while average asking rents rose to $7.07 per square foot.

Realty Income's Industrial Exposure

As of June 30, 2026, Realty Income owned or held interests in 15,588 properties leased to 1,798 clients across 92 industries, with portfolio occupancy of 98.8% and a weighted-average remaining lease term of 8.6 years. Industrial properties represented 16.2% of the company's annualized base rent, while retail accounted for 78.3%. Realty Income reported second-quarter 2026 revenue of $1.548 billion and invested $2.568 billion during the quarter at a 7.3% initial weighted-average cash yield. Net debt to annualized pro forma adjusted EBITDAre was 5.4x at the end of the period.

VanTrust Real Estate, headquartered in Kansas City, Missouri, is a full-service real estate development company with a regional office in Columbus. The sale monetizes a newly delivered development for the firm.

Sources

• JLL newsroom: JLL arranges the sale of New Albany Tech Park 300