VanTrust will kick off construction on a speculative 302,400-square-foot industrial project in New Albany, Ohio, its seventh such development in the market. Completion is slated for 2026’s second quarter.
Elford Construction will serve as general contractor for the RED Architecture-designed project, while EHM&T will provide civil engineering services. Upon delivery, the property will feature some 200 parking spaces.
The 22-acre site is at 12550 Jug Street NW in Licking County, roughly 23 miles northeast of downtown Columbus, Ohio. U.S. Route 62 and Ohio State Route 161 run within 3 miles, while John Glenn Columbus International Airport operates approximately 19 miles away.
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The project is part of VanTrust’s 3.7 million-square-foot New Albany Tech Park. The master-planned development is also part of the larger 9,000-acre New Albany International Business Park—one of the biggest industrial parks in the nation with more than $6 billion in private investment.
VanTrust has entered the New Albany submarket in 2019 with the development of a 302,000-square-foot property which it sold one year later in a $191.4 million portfolio transaction, Yardi research data shows.
Most recently, the firm delivered a 1.2 million-square-foot, build-to-suit project for Denmark-based shipping company DSV. The property came online late last year, and VanTrust sold it last month for $136 million to ElmTree Funds, the same source reveals.
Columbus’ healthy industrial pipeline
Greater Columbus’ industrial pipeline comprised nearly 3.4 million square feet of product underway in March, according to a Cushman & Wakefield report. The market has witnessed some 1.7 million square feet in industrial completions during the first three months of the year. In 2024, developers had delivered 6.5 million square feet.
Licking County was a hotspot for industrial development, having 1.5 million square feet of product under construction in March, the report shows. Meanwhile, completions in the submarket amounted to some 1.2 million square feet, accounting for more than 75 percent of all completions in metro Columbus.
