Monday, October 17, 2011

Transaction of the Week - 10/17/11

PB IL OREO, LLC Sells Industrial Space at Former Lucas Aerospace Facility

Grubb & Ellis Company was retained by PB IL OREO, LLC in the sale of the industrial area known as Unit No. 2, Parts A & B of the Former Lucas Aerospace Building. The property, located at 777 Lena Dr., Cleveland, sold to Stuart Lichter and Chris Semarjian, dba Lena Commerce, LLC for $1,700,000.

The Former Lucas Aerospace facility was built in 1989, and features 21’6 ceilings, 4 docks with levelers and 2 drive-indoors. The building sits on 28.37 acres. In 2006, Commercial Turf relocated its headquarters into 83,000 square feet of the warehouse area of the same facility. Read the full story on Crain's Cleveland.

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