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Westminster Capital Developing 434,000-SF Industrial Project in Glenwillow

Spec Industrial Project Planned for Supplied-Constrained NE Ohio Market
July 2, 2018
Construction is underway on Victory Commerce Center, a new 434,000-square-foot warehouse/distribution building in Glenwillow, Ohio.

Chicago-based Westminster Capital is developing the 30-acre complex located at 43500 Victory Parkway in the Diamond Business Park, its first development in northeast Ohio.

The industrial building will include 32' clear heights, 54' x 56' column spacing, ESFR sprinkler systems, LED lighting and 52 docks with 68 additional dock locations. The general contractor is Geis Construction. Completion of the building shell is expected in early 2019.

David Stecker and Joe Messina of Jones Lang LaSalle represented Westminister in the site acquisition, and have been tapped to handle leasing efforts as well. According to JLL, the Cleveland-area's overall industrial vacancy is hovering near 5.4 percent while the vacancy for "modern bulk" space is below 3 percent.

"Existing options are limited for industrial tenants larger than 100,000 square feet that require 32' clear heights, with sufficient loading," said JLL's Stecker.
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