Reno – Dermody Properties, a national investment, development and management company, and Hillwood Investment Properties, were recently named a Top Dealmaker: Deals of the Year by Real Estate Forum Magazine for the development of the Wayfair Inc. (NYSE:W) fulfillment center in northern Kentucky.
LogistiCenter(SM) at 275 is an 898,560-square-foot facility, and one of the largest recent developments in the region. It will complement Wayfair’s current fulfillment center in Hebron, Ky., allowing the company to increase its distribution capacity. Wayfair currently employs more than 200 people in its Hebron facility and looks forward to creating additional jobs in northern Kentucky to staff its new fulfillment center.
“LogistiCenter(SM) at 275 is a marquee development for Dermody Properties and for the region,” said Gregory Arnold, Partner, Dermody Properties. “We thank the team for their extraordinary work on the project, including all of our dedicated partners.”
According to Real Estate Forum, the transactions selected for this year’s Dealmakers stood out from hundreds of deals that took place in the industry.
Todd Platt and Chris Brown represented Hillwood Investment Properties. David Kelly of Cushman & Wakefield served as Dermody Properties’ broker for the site selection. Jon Varholak of Transwestern and Jeff Bender of Cushman & Wakefield served as the brokers for Wayfair. Paul Hemmer Company is the general contractor on the project, which is expected to be complete in the second quarter of 2016.
“The Cincinnati/Northern Kentucky region is a key market for distribution, especially for e-commerce fulfillment, and we look forward to developing more projects in the area as opportunities arise,” said Douglas A. Kiersey, Jr., President, Dermody Properties.
The development was recently named the Industrial Deal of the Year by NAIOP’s Cincinnati/Northern Kentucky Chapter.
Dermody Properties is a privately owned industrial real estate investment, development and management firm, founded in 1960. The firm specializes in acquisitions and development of industrial real estate in strategic locations for Internet fulfillment centers, manufacturing, distribution, third party logistics, food packaging and distribution. To learn more about Dermody Properties visit Dermody.com.