The property at 5335 Avion Park Dr. has access to I-90 and I-271. It was built in 1994. Stanley leases 50,000 sf, taking the building to 66% occupancy at the outset.
Terms of both the sale and lease are undisclosed. Area brokers tell GlobeSt.com average asking rental rates at industrial space in the area are approximately between $4.40 per sf and $5.52 per sf.
Art Marcus of Duke worked with Fred Herrera of the Cleveland office of Los Angeles-based CB Richard Ellis on the transaction.
Stanley is a worldwide supplier of tools, hardware and doors.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
