The Pizzuti Companies and Nationwide Realty Investors (NRI) announced the sale of a jointly owned portfolio of a master-planned, rail-served, 500-acre business center of 10 warehouse buildings to Dividend Capital for $106.5 million. The portfolio was marketed by the Columbus office of CB Richard Ellis south of downtown Columbus in a distribution corridor within minutes of Port Columbus International and Rickenbacker airports.

“The time was right to sell off some portions of our assets as we do periodically,” said Joel S. Pizzuti, president and COO of The Pizzuti Companies. We were able to negotiate the sale of a jointly owned portfolio of 10 institutional-quality distribution facilities, a $106.5 million deal that was beneficial to all parties involved. As a result, we achieved our goal and are now in an excellent position to move into new development opportunities."

"We used Jim Havens and Cardinal Title to provide title insurance, escrow, and closing services for this transaction. They have worked with us over many years and we have come to rely upon their consistently capable and professional service to help us achieve our goals.”