Property Details:

• Listing Type: Sale
• Available: 97,524 SF
• Sale Price: $20,000,000
• Parcel Number: 211-26-078, 211-26-077

Property Description:

The property is situated in Westlake, OH, one of Cleveland's premier suburban markets, with a median household income of over $103,000. It comprises a Class A 3-building portfolio, with 62% of the portfolio completed in 2024. The portfolio features long-term tenants with national credit, including medical and professional office users, and is characterized by landlord-friendly leases that entail minimal responsibilities and yearly rent increases. This investment has a proven track record of steadily increasing rents, with a weighted average lease term remaining (WALT) of 7.75 years. Remaining office vacancies are likely to benefit from medical users, who typically command higher rents and longer lease terms compared to standard office tenants. Additionally, the property is directly adjacent to a new retail development, Crocker Commons, and is located across from Crocker Park, an award-winning mixed-use development spanning 4.5 million square feet.

More Information:

• Crocker Commons Teaser.pdf

Listing Agents:

Rico A. Pietro, SIOR

Jim Krivanek

Connor Redman

David Leb