Value-Add Net Leased Industrial

5800 Grant Ave, Cleveland, OH
Deal Type:
Net Lease
Price:
$8,800,000
Current Rent:
$547,863
Lease Type:
Triple Net
Landlord Responsibilities:
Roof and Structure
Lease Expiration Date:
Approx. 1.5 years
Renewal Options:
One, 5-year option
Building Sq. Ft.:
189,304 SF
Site Size:
13.73 Acres

Investment Highlights

  • Value-add opportunity in highly coveted Brooklyn Heights submarket of Cleveland with below-market rents and attractive basis
  • Industrial market rents in the Brooklyn Heights submarket are moderately higher than the rest of the metro area and grew at over 3% year-over-year (the strongest rate of rent growth in the submarket in more than 5 years)
  • Positioned directly off Interstate 77 near the convergence of I-77 and I-480, the property is 15 minutes from Cleveland Hopkins International Airport and 10 minutes from Downtown Cleveland
  • Short-term lease with potential to extend with current tenant (BBB+ rated parent company), or redevelop / retenant at higher market rents
  • Long-term strategic facility to the business, with over 150 years of operating history; this is the tenant’s only location in Cleveland

Listing Agents

Krupa Shah

Managing Director
646 734 4188
Krupa@stream-cp.com
Jeff Lizzo STREAM Capital Partners

Jeff Lizzo

Senior Vice President
630 222 8409
Jeff@stream-cp.com

In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946

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