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Warehouse Distribution Site Sold - Apr 20, 2009
With a new lease in place, Scott Hrabcak and Anthony Masci of Real Living Business represent the buyers of the 151,000 square foot Cloverleaf recently leased to Brown Logistics Solutions for $2,875,000.00.
The new owner's 2100 Cloverleaf Llc an Ohio Limited Liability Company, purchased the site on the strength of the lease component as well as the users long term market experience and growth potential. As investors the value at under $20.00 per square foot proved to be the motivating factor to get the deal done.
The building sits on approximately 12 acres of ground and will provide for expansion possibilities for Brown Logistics and the buyers are looking at a substancial building improvement investment to give it a new look and feel.
Real Living Business/The Commercial Partnership has also been appointed as manager for the 151,000 square foot facility for Brown Logistics. The team of Clem Mathews, Tom White and Will Ryan will head the management effort for The Commercial Partnership.
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