Pioneer Development, a commercial and residential real estate development and investment firm, announced plans to build a 55,000 square-foot multi-tenant flex and warehouse space in Marysville, investing $7.980 million.
Located at 14711 Industrial Parkway, Marysville, OH 43030, the new facility will target suppliers for Honda, Scotts, Intel and other large manufacturing, automotive and agribusiness companies nearby, as well as rapidly growing electronic vehicle and smart mobility technology development and testing activities along the 33 Smart Mobility Corridor.
The 55,000 square-foot facility will include tenant spaces ranging from 5,000 – 15,000 square-feet. With the help of a JobsOhio Ohio Site Inventory Program (OSIP) grant, Pioneer Development will use the funds for site preparation, new building construction and on and off-site infrastructure.
“Marysville represents the growth and development happening all around the Columbus Region,” said Dave Sells, Partner, Pioneer Development. “We’re looking forward to being a part of this thriving community and manufacturing hub.”
This investment in Marysville comes at a time where Union County is cementing itself as a leader in national and international manufacturing. In fact, there is currently a less than 2% vacancy rate for industrial space throughout the county.
“The US-33 Corridor is home to over 70 automotive companies. With the recent Intel and Honda investments announcements and the growth of industry in Union County, the need for speculative space is increasing quickly,” said Terry Emery, City Manager, Marysville. “This project and the resulting investment and job creation will have a positive impact on the economy of Union County.”
“As more automotive companies invest along the US-33 Corridor, we are seeing rising demand for space from businesses that see the extraordinary opportunity to grow and innovate there,” said J.P. Nauseef, JobsOhio president and CEO. “By partnering with Pioneer Development through the Ohio Site Inventory Program, 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.”
Learn more about the Ohio Site Inventory Program can help with grants and low-interest loans for speculative development projects.