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Article Summary
Core5 Industrial Partners plans to invest approximately $33 million to redevelop a former Procter & Gamble property in Cincinnati’s Winton Hills neighborhood into a speculative warehouse and industrial facility. Cincinnati City Council has approved a 15-year property tax incentive to support the project. The redevelopment would transform a long-vacant corporate site into modern industrial space while expanding the region’s logistics and commercial real estate inventory.
An industrial development is moving forward at a former Procter & Gamble property in Cincinnati with a proposed $33 million warehouse project.
This development at the long-vacant Winton Hills site aims to transform a former corporate campus into a modern logistics facility. It will add new industrial space to the region’s commercial real estate pipeline.
The redevelopment marks another step in the transformation of one of Cincinnati’s best-known corporate properties. Core5 Industrial Partners has proposed constructing a speculative industrial building on the former Procter & Gamble campus in Winton Hills, according to the Cincinnati Business Courier. The project would repurpose a site that has sat largely vacant. This vacancy followed P&G’s decision to relocate employees from the Winton Hill Business Center to downtown Cincinnati and Mason. According to WCPO, the company announced the relocation and closure plans in 2024 as part of a long-term campus consolidation strategy.
Industrial development receives city support
The proposed industrial development carries an estimated investment of approximately $33 million. The Cincinnati City Council has approved a 15-year property tax incentive to help support the redevelopment of the former P&G property.
Core5 Industrial Partners specializes in Class A industrial facilities across the United States. The Atlanta-based developer has expanded throughout key logistics markets, including Cincinnati and Northern Kentucky, with projects designed for warehouse, manufacturing, and distribution users.
Unlike a build-to-suit project, the proposed building would be developed on a speculative basis. That means construction would begin before securing a tenant, allowing businesses seeking industrial space to lease the facility upon completion.
The redevelopment is expected to include:
- A modern warehouse and logistics building
- Site demolition and redevelopment work
- Infrastructure improvements
- Space designed for future industrial or distribution tenants
According to the Cincinnati Business Courier, the project would add another large industrial asset to Greater Cincinnati’s growing logistics market.
Industrial development reflects growing logistics demand
The industrial development comes as Cincinnati continues to attract warehouse and distribution investment because of its strategic location. The metropolitan area provides direct access to Interstates 71, 74 and 75. As a result, companies are placed within a one-day drive of a significant share of the U.S. population.
Commercial real estate firms have reported continued demand for modern industrial facilities despite slower construction activity in some regions. New buildings featuring higher clear heights, expanded trailer parking and updated loading capabilities remain attractive to logistics operators and manufacturers.
Core5 has developed millions of square feet of industrial space nationwide, focusing on logistics hubs and transportation corridors. The company says it has developed or begun construction on roughly 50 million square feet of industrial property since its founding.
The Winton Hills project would also continue a broader trend of redeveloping former manufacturing and corporate campuses. These are now being turned into industrial facilities that support e-commerce, regional distribution and light manufacturing.
Former P&G campus enters a new chapter
The proposed project follows Procter & Gamble’s decision to close its Winton Hill Business Center after relocating employees to its downtown headquarters and Mason innovation campus. According to WCPO, the transition affects approximately 1,500 employees over several years. The consumer products company is consolidating operations.
The Winton Hill Business Center first opened in 1958 and served as home to research, development and business operations for several P&G brands for decades. As portions of the campus became vacant, redevelopment opportunities emerged for one of the city’s largest corporate properties.
Transforming the site into an industrial facility would return the property to productive commercial use. This would also support Cincinnati’s industrial real estate sector.
Economic development leaders have increasingly prioritized the reuse of former industrial and corporate sites rather than developing undeveloped land. Redevelopments can make use of existing utilities, transportation access and established infrastructure. This reduces development timelines while revitalizing underused properties.
What happens next?
Following City Council’s approval of the tax incentive, Core5 Industrial Partners can continue with project planning, permitting and eventual site preparation.
Because the facility is speculative, marketing to prospective tenants is expected to occur alongside construction. Companies seeking warehouse or logistics space may be able to customize portions of the building before occupancy if leases are signed during development.
Regional industrial vacancy remains relatively healthy compared with many major U.S. markets, and developers continue to pursue projects near major highways and freight corridors. Industry analysts have noted that Greater Cincinnati’s location, workforce and transportation network continue to make it attractive for logistics investment.
Additional project details, including building size, construction timeline and future tenants, are expected to become available as development moves forward.
For more information about the redevelopment incentive, visit the City of Cincinnati and the Hamilton County Auditor. The proposal represents one of the largest industrial redevelopment projects announced in Cincinnati this year. WCPO also previously reported on Procter & Gamble’s closure of the Winton Hill Business Center and the relocation of employees that paved the way for future redevelopment.
FAQs
What is planned for the former Procter & Gamble site?
Core5 Industrial Partners has proposed building a speculative warehouse and industrial facility on the former Procter & Gamble property in Winton Hills. The project is valued at approximately $33 million and is intended for future industrial or logistics tenants.
Why is the project considered speculative?
A speculative, or “spec,” development is constructed before a tenant has signed a lease. Developers build these facilities based on anticipated market demand and lease the space after or during construction.
Why did Procter & Gamble vacate the Winton Hills property?
Procter & Gamble relocated employees from the Winton Hill Business Center to its downtown Cincinnati headquarters and Mason campus as part of a broader consolidation plan. The move left portions of the property available for redevelopment.
What impact could the redevelopment have on Cincinnati?
The project would return a long-vacant property to commercial use and increase the supply of modern industrial space in the region. It could also support future job creation once tenants occupy the completed facility.
