Arborstone Acquires Meridian Logistics Center in Columbus

Arborstone Capital Partners has acquired Meridian Logistics Center, a 425,000-square-foot Class A distribution facility in Columbus, Ohio, in an off-market transaction valued at $118 million.

The facility is fully leased to investment-grade tenants under long-term triple-net structures and sits at the intersection of two major interstate corridors, within a one-day truck reach of nearly half of the U.S. population.

The acquisition was made below replacement cost in a submarket that has posted sub-4% vacancy for five consecutive years. Planned capital improvements include an LED retrofit and trailer-parking expansion.