Gahanna Industrial Campus Near Airport Sells for $42 Million

Dogwood Industrial Properties, a TPG Real Estate platform, paid $42 million for Eastgate Business Center, a 292,594-square-foot industrial campus at 1800–1808 Deffenbaugh Court in Gahanna. The seller was a Scannell Properties and Manulife Investment Management joint venture, with Colliers brokering; the campus is fully leased to Wesco and Nuvik USA.

Two Buildings, One Airport Corridor

The campus sits on Deffenbaugh Court in Gahanna, a city in eastern Franklin County just off I-270. The campus provides direct access to I-70 and I-71, sits about two miles from John Glenn Columbus International Airport, and is roughly 12 miles from the Intel semiconductor campus under construction in New Albany.

The buildings feature 32-foot clear heights and 30 dock doors — specifications consistent with modern regional distribution facilities that handle pallet freight rather than small-parcel e-commerce. Colliers, which represented the sellers, confirmed the sale in its August 7, 2026 weekly market recap. REBusinessOnline and CoStar reported the deal; property records through Franklin County Auditor data, as indexed by PropertyShark, confirm the transfer.

What $42 Million Tells You About East Columbus Industrial

At $42 million for 292,594 square feet, the implied price works out to approximately $143 per square foot — a premium relative to older industrial product in Columbus, but within range for a fully leased, modern-spec asset with creditworthy tenants and airport adjacency.

That fully leased status is the key detail. Dogwood didn't buy a bet on vacancy fill-up. It bought existing cash flow from two tenants: Wesco International (NYSE: WCC), a publicly traded electrical and industrial distributor, and Nuvik USA, a Canadian safety products company that uses Columbus for Midwest distribution. Both occupy the campus on full-building terms.

When institutional capital — a TPG Real Estate platform — writes a $42 million check for a fully leased East Columbus industrial asset, it signals that the submarket is performing well enough to justify premium pricing. Colliers' Columbus industrial market reports have flagged tight vacancy in key submarkets through the first half of 2026, and the East corridor has drawn steady demand from airport and Intel-campus proximity without the spec-supply wave seen in other parts of the metro.

Who Dogwood Industrial Is, and Why They Chose Gahanna

Dogwood Industrial Properties is a TPG Real Estate platform focused on acquiring and managing industrial and logistics assets across the U.S. TPG is one of the world's largest alternative asset managers. Dogwood targets modern logistics facilities in supply-constrained markets and has been expanding in Midwest cities as coastal industrial cap rates compress.

The Eastgate acquisition appears to be Dogwood's entry into the Columbus market. Central Ohio's logistics infrastructure — driven by Amazon, a growing Intel supplier base, and regional pharma and auto-parts distribution — has made it one of the more closely watched Midwest industrial markets, even as CRE News has covered the region's broader growth story.

Scannell Properties, the developer, and Manulife Investment Management, the institutional equity partner, were the sellers. Scannell has multiple industrial projects underway in Central Ohio and typically recycles capital from stabilized assets into new development — a pattern consistent with this transaction.

What to Watch in East Columbus and Gahanna

For Gahanna and the East Columbus submarket, this transaction is a data point rather than a turning point. The East corridor has attracted institutional capital quietly — without the headline volume of spec parks in the southwest or southeast rings — because its fundamentals are durable: airport access, highway connectivity, and proximity to the Intel campus.

The next data point to watch: whether Dogwood or other core-plus buyers target additional East Columbus assets as Intel's New Albany campus moves toward its production phase. Construction and supplier activity along the New Albany–Gahanna ring has historically preceded a second wave of logistics investment. This acquisition suggests that wave may already be pricing in.

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*Sources: Colliers — Eastgate Logistics Center sale (primary) · REBusinessOnline · CoStar · Colliers Columbus Weekly Review · The Westerville News · Franklin County Auditor records via PropertyShark*