New distribution center tenant moving to Monroe business park

Industrial Distribution Group is considering a lease of more than 200,000-square-feet at the industrial park known as Park North at Monroe, which is located near the intersection of Ohio 63 and Interstate 75, according to Warren County Port Authority and West Chester Twp. records.

The company, which is currently located on Meridian Way in West Chester Twp., would share space in the same building as Serta Simmons Bedding, according to the port authority, a government agency involved in financing business deals.

The mattress manufacturer Serta moved from Forest Park to the Monroe site in what’s known as Building 4 last year and leased 430,000-square-feet.

If Industrial Distribution Group makes the move as well, it has the potential to about fill the building, which totals approximately 650,000-square-feet. The company’s local operations could not be reached for comment Monday.

Warren County Port Authority is scheduled at its meeting Tuesday to consider amending a lease interest it has at Park North for the new tenant. The port authority’s ownership interest reduces construction costs for the developer.

Park North is also located in an area with property tax abatements, according to Monroe.

Since acquiring the business park through sheriff’s sale in 2012, the developer, Industrial Developments International Gazeley, has followed a process of building a speculative building and leasing it before starting construction on the next one.

Other buildings at Park North include a warehouse and distribution center for catalog and online retailer Cornerstone Services Inc., which leases approximately 351,000-square-feet of a bigger building; and the $50 million, 232,000-square-foot manufacturing plant for auto supplier UGN Inc. with room to expand to about 400,000-square-feet.

Home Depot also operates a 657,600-square-foot Rapid Deployment Center at the business park, although that facility was built by the previous developer.

Additionally, IDI Gazeley started construction last year at Park North on what could be the largest building ever constructed in Monroe, according to city officials. Plans called for construction of a 992,524-square-foot speculative building for about $22.5 million. A tenant has yet to be announced for that space.

IDI Gazeley did not respond to requests for comment Monday on the IDG lease by deadline.

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