Developer to build $8M spec building in Marysville

Austin, Texas–based real estate development and investment firm Pioneer Development will invest nearly $8 million in a 55,000-square-foot spec facility in Marysville, Columbus Business First reports. The building, “targeting suppliers of major companies such as Honda, Intel and Scotts,” is described as “multi-tenant flex and warehouse space,” according to the article. JobsOhio awarded the project an Ohio Site Inventory Program grant, which Pioneer will use for “site preparation, new building construction, and on- and off-site infrastructure.” In a press release, JobsOhio President and CEO J.P. Nauseef said by partnering with Pioneer Development, “we are developing speculative property attractive to investment from businesses that can more easily choose Ohio for new jobs that move smart mobility and other technologies forward.” Officials “say the spec building is needed because there is a less than 2% vacancy rate for industrial space throughout Union County, where Marysville is located.” For more, read the full article.

Economic Development, Project Finance, State Updates