Who Bought the $65 Million Cincinnati Industrial Property?
New Haven REIT, a subsidiary of Morgan Stanley’s real estate investment platform, bought the 730,080-square-foot Cincinnati-area industrial property from Prologis for $65 million in July 2026.
Buyer identity and transaction
New Haven REIT is a real estate investment trust subsidiary linked to a New York City investment firm.
Its connection to Morgan Stanley’s real estate investment platform identifies the financial group behind the buyer, while New Haven REIT was the purchasing entity named in local reporting.
Prologis sold the property to New Haven REIT. The transaction ranked among the Cincinnati region’s largest commercial real estate sales of 2026 and was also highlighted as a major industrial sale.
The acquisition placed the buyer in a logistics corridor east of Cincinnati. The reported sale price was $65 million, making the transaction a significant regional investment.
The deal was completed in July 2026. The Williamsburg Township property serves MillerKnoll and covers 47 acres, including a facility that recently underwent a 20% expansion. The site has 150 employees.
The property’s logistics role reflects the importance of regional freight movement in industrial real estate.
What Does the 730,080-Square-Foot Facility Include?
The 730,080-square-foot facility is a single-building warehouse and distribution site on 47 acres at 3001 Afton Drive in Williamsburg Township, east of Batavia.
The regional industrial asset was built for home furnishings logistics and is designated a Class A+ warehouse.
Its configuration supports fulfillment and inventory management. The building was delivered in 2019 as a build-to-suit project and later expanded by 112,320 square feet.
Key details include:
- Property: 47 acres in the Cincinnati metropolitan area.
- Use: Warehouse and distribution operations for Design Within Reach, with the lease backed by MillerKnoll.
- Occupancy: Fully leased under a new 10-year agreement executed alongside the expansion.
The facility’s layout is intended to support long-term operational continuity, with a focus on warehousing and logistics.
Cincinnati’s population growth and demand for housing are reshaping the region’s real estate market.
How Did the Facility Support MillerKnoll’s Growth?
Designed for Design Within Reach’s national distribution and fulfillment needs, the Batavia facility gave MillerKnoll a logistics base to support the brand’s growth across North America. As a mission-critical hub for DWR distribution, it supported omnichannel retail operations and helped align inventory management with customer demand.
The warehouse’s expanded capacity accommodated inventory growth and increased outbound distribution capability. MillerKnoll added 112,320 square feet, bringing the facility to 730,080 square feet.
The larger footprint also supported more streamlined fulfillment and inventory handling, strengthening the site’s role as a center of excellence within the company’s operations network.
The facility reinforced MillerKnoll’s regional presence and broader strategy of scaling retail channels and distribution.
The long-term lease, which extends through March 2036, reflected MillerKnoll’s continued commitment to the logistics base. After the expansion, the site workforce reached about 150 employees, with approximately 30 additional full-time jobs expected.
Where Is the Williamsburg Township Distribution Facility?
Located about 30 minutes east of Cincinnati, the Design Within Reach distribution facility is at 3001 Afton Drive in South Afton Industrial Park, Williamsburg Township, Clermont County. The site is roughly 15 minutes from Interstate 275.
The facility serves Design Within Reach, a MillerKnoll brand, as a North American home furnishings distribution operation. The original building measured 617,760 square feet.
A 112,320-square-foot expansion was announced in 2025. Once complete, the facility is expected to exceed 730,000 square feet.
The property is part of a broader industrial cluster in the township. Its address and highway access support its regional distribution role.
What Does the Sale Mean for Cincinnati’s Industrial Market?
Beyond its role in regional distribution, the Williamsburg Township facility’s $65 million sale reflects sustained investor demand for Cincinnati industrial properties. The transaction ranks among the region’s largest commercial real estate deals in 2026, and the Morgan Stanley subsidiary buyer signals institutional investment confidence in occupied industrial assets.
The property was fully leased when sold and had recently expanded, reducing leasing risk while indicating expectations of continued distribution needs.
Those features align with broader industrial demand: Cincinnati recorded 7.0 million square feet of net absorption over 12 months in one report, while Q2 absorption reached 2.7 million square feet in another.
Market vacancy remained tight, with 2026 estimates ranging from 4.0% to 5.6%. Low vacancy and rising asking rents support owner pricing power and suggest limited near-term slack.
The sale reinforces Cincinnati’s standing as a competitive logistics hub.
Assessment
The $65 million sale transfers a major Cincinnati-area distribution facility to new ownership while preserving a substantial industrial asset in Williamsburg Township. Its 730,080 square feet and connection to MillerKnoll’s operations underscore the site’s role in regional logistics.
The transaction adds to activity in the local industrial market, though its longer-term effects will depend on how the buyer uses the property and whether the facility’s operations or employment change after the sale.
