**CBRE Facilitates $9.4 Million Sale of R&D Facility in Warren, Ohio**
CBRE has announced the successful sale of a 94,000-square-foot industrial research and development facility located in Warren, Ohio. PG Warren Industrial LLC acquired the property from Industrial Commercial Properties in a transaction valued at $9.4 million.
The sale was brokered by CBRE’s Steve Timmel, Will Roberts, and George Stevens, who represented the seller. Commenting on the deal, Timmel noted, “Investor interest in northeast Ohio remains strong, especially for high-quality industrial R&D assets similar to 4551 Research Parkway. In such a competitive market, properties with these qualities stand out as rare and valuable acquisition opportunities.”
The facility is situated at 4551 Research Parkway, near the interchange of State Routes 82 and 45. Originally constructed in 1998 and renovated in 2014, the property sits on an 11.85-acre site and includes features such as 22-foot clear ceiling heights, 10 drive-in doors, and a reinforced concrete foundation. At the time of the sale, the building was fully occupied by Aptiv and is part of the company’s larger Warren campus.
