NAI Daus Represents Owner, Tameran Inc., in the Sale of a Multi Tenant Industrial/Flex Building in Solon, Ohio
Cleveland, Ohio – (October 6, 2015) – NAI Daus announced that it represented Tameran Inc. in the disposition of the multi-tenant industrial/flex building at 30300-30340 Solon Industrial Parkway in Solon, Ohio to LKL Properties, Inc. The 72,600-square-foot, freestanding building was sold for $2,950,000. David Hexter, SIOR, Partner and Jeffrey Calig, CCIM, Senior Vice President of NAI Daus represented the seller in this transaction.
Hexter explains that investment buyers are looking for quality industrial buildings with credit-worthy tenants. The property is located in Solon, a very desirable industrial market for both users and investors. “My partner and I began leasing the building during the downturn. Now that the market has strengthened and we are near full occupancy, the owner had the opportunity to maximize his return on investment by selling” said Hexter. In the last year, cap rates have been more inline with seller’s expectations. “It’s an ideal time to sell,” said Hexter.