Cincinnati Commerce Center — Sale in Covington, KY

  • Price: $48
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Covington, KY
  • Year built: 2023

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Description

Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Cincinnati Commerce Center, a 146,000 square foot distribution facility located in Covington, Kentucky (Cincinnati MSA). Constructed in 2023, this Class A facility provides industrial specifications that modern users require, including 32' clear height, 130' truck court depth, ESFR fire protection, and LED lighting. Additionally, the Asset's construction quality and its TPO roof's 15-year warranty limits future capital requirements. The Property is 100% leased to three tenants with 9.0 years WALT and 3.0% average annual rent increases. 45% of the GLA is leased and guaranteed by Thermo Fisher Scientific (S&P: A-, Moody's: A3), providing credit tenant exposure contractually through 2036. The Cincinnati Commerce Center offers investors an opportunity to acquire highly functional, Class A industrial product, in the tight Covington submarket of Cincinnati, with a stabilized, growing cash flow. Positioned minutes from the Cincinnati CBD, the Property's proximity to I-275 provides tenants with outstanding access to Cincinnati's major transportation infrastructure. Namely, the Property is twelve miles away from the Cincinnati/Northern Kentucky International Airport, which houses Amazon and DHL air hubs, driving industrial demand in the region. Additionally, the Covington submarket has significant topographical challenges that hinder developers' ability to build, which has resulted in an extremely muted pipeline of oncoming product. The market boasts a sub-3% vacancy rate and is well poised for future rent growth.

Market Context

This industrial in Covington, KY is listed for sale at $48. The building dates to 2023. Compare it against other industrial listings for sale in Covington, KY — view the full market.

As of Q2 2026, the Cincinnati industrial market showed average asking rents near $6.43/SF/yr, and rents up 1.4% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

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