EXECUTIVE SUMMARY
Cushman & Wakefield’s National Industrial Advisory Group has been retained as exclusive advisor for the sale of the DWR Fulfillment Center (the “Property”), a modern, Class A+ warehouse located at 3001 Afton Drive in Batavia, OH (Cincinnati MSA).
The 730,080 SF facility is 100% leased to Design Within Reach, Inc. (“DWR” and “Tenant”), with the lease fully guaranteed by MillerKnoll, Inc. (NASDAQ: MLKN). Originally delivered in 2019 as a build-to-suit development, the Property was purpose-designed to support the tenant’s national distribution, fulfillment, and inventory management operations.
The Tenant recently expanded the building by 112,320 square feet and executed a new 10-year lease with 3.0% annual escalations through March 2036. Upon completion, the expansion will enhance operational efficiency, increase storage capabilities, and expand outbound distribution capacity.
With modern construction, long-term income durability, and a credit-backed, mission-critical tenant, the DWR Fulfillment Center represents a compelling opportunity to acquire a high-quality institutional asset in Greater Cincinnati.
INVESTMENT HIGHLIGHTS
- 10-Year Lease with 3.0% Annual Escalations
- Full Corporate Guaranty by MillerKnoll (NASDAQ: MLKN)
- Mission-Critical Expansion (112,320 SF) Underway
- Modern, Institutional-Quality Distribution Facility
- Strategically Located in East Cincinnati
OFFERING AT A GLANCE
| Size: | 730,080 SF |
| # of Buildings: | 1 |
| Tenant: | Design Within Reach |
| Guarantor: | MillerKnoll (NASDAQ: MLKN) |
| Leased: |
100% |
| Remaining Term: | 9.8 Years |
| Annual Escalations: | 3.0% |
CONTACTS
|
ADAM TYLER Vice Chair
|
MIKE TENTERIS Vice Chair |
|
JIM CARPENTER Vice Chair |
MEGAN BARKER Director |
|
JEFF BENDER, SIOR, CCIM Executive Vice Chair +1 513 763 3046 |
SEATTLE STEIN Director +1 513 763 3027
|
| JEFF ALTENAU Vice Chair +1 312 470 2355 jeff.altenau@cushwake.com |
ZACH YARNOFF Managing Director |