Matthews Real Estate Investment Services, a leading commercial real estate firm specializing in investment services and technology, recently finalized the sale of 30701 Carter Street in Solon, Ohio. The impressive single-tenant manufacturing property was sold for an impressive $11.52 million by Associate Vice President Matt Kovesdy on behalf of the buyer.
This transaction marks the largest industrial deal for owner-occupied properties in Cleveland’s market this year based on square footage. Spanning across 17.68 acres with a total area of 337,000 square feet, this industrial facility was previously owned by Cosmax USA who ceased operations at the location earlier this year to relocate resources and equipment to other markets within the United States.
The new owner Mytee Products plans to make significant improvements to convert it into a distribution center from its current use as a manufacturing plant. They are set to move their operations into approximately 228,500 square feet of space by May 2024 while Matthews will be representing them for leasing out remaining spaces including primary building (67,000 sq ft) and stand-alone building (34 ,500 sq ft).
This successful deal is another feather in Matthews’ cap as they continue their track record of closing major transactions within Cleveland’s metro area.
