Pizzuti Cos. has landed two tenants for a New Albany industrial development.
The companies have signed leases for Pizzuti’s Multi-Tenant II building on New Albany’s Innovation Campus. The two will use 50 percent of the 264,000 square foot speculative building at 8820 Smith’s Mill Road.
With these projects, the Columbus development firm has 144,000 square feet of space remaining in the building to lease out.
Aromair Fine Fragrance, which is based in a nearby building in the park, is expanding and moving into 84,000 square feet of leased space in Multi-Tenant II. The company is a manufacturer and distributor of fragrances, home and air care products.
It has a workforce of more than 200 people, including chemists, engineers, marketing professionals and production workers.
The other tenant is a New York-based company, Onyx Packaging Corp. The company designs, manufactures and distributes packaging especially for the cosmetics and personal care industries. They will use 36,000 square feet in the building.
“We’re pleased to welcome both Aromair Fine Fragrance and Onyx Packaging to our new multi-tenant building,” said Joel Pizzuti, president of Pizzuti Cos. in a statement. “Interest from potential tenants remains strong, as they recognize that New Albany’s Innovation Campus is an ideal location in which to conduct business.”
Pizzuti was the developer on the warehouse, which began construction in July 2016, with Ford & Associates as the architect and Corna Kokosing as the contractor.
In total, it has built more than 3 million square feet of space at New Albany’s Innovation Campus. Jim Miller with Pizzuti manages the leases there.
Last month, Pizzuti also began work on a $34.5 million, 1.5 million-square-foot expansion of its CreekSide Industrial Center near Rickenbacker and also began work on the next 223,750-square-foot spec building at the Southpark Industrial Center.
Pizzuti’s activity comes at a time that industrial development in Columbus is red hot. Central Ohio has an industrial vacancy rate at 4.4 percent, and more than 3.2 million square feet of speculative development is now under construction, JLL found.
By Tristan Navera
From Columbus Business First