Property Listing No Longer Available for Sale

703 South Cleveland Massillon Road

Fairlawn, OH

Office for Sale - $25,100,000 - 97,845 Sq. Ft. on 434.8 acres


Property Info

CIMLS#122304
Location
  703 South Cleveland Massillon Road
  Fairlawn OH 44333
UpdatedApril 23rd, 2010
TypeOffice
Price$25,100,000
Building97,845 Sq. Ft.
Land434.8 acres

Property Description

The subject property began as a speculative office building with the first phase constructed in 2007 consisting of a four (4) story office building with 50,437 rentable square feet. The building was leased in 2007 to Veyance Technologies, Inc., whom immediately requested an expansion of the facility. In 2008, a three(3) story Innovation Center comprising 43,286 rentable square feet and a one (1) story Connector Building consisting of 4,122 rentable square feet was completed. The property encompasses 4.348 acres.

The subject property is the Global Headquarters for Veyance Technologies, Inc. (formerly Goodyear Engineered Products, a subsidiary of Goodyear Tire & Rubber Company). The property is located in the affluent Northeast Ohio suburb of Fairlawn (Summit County) and more specifically in one of the premier office markets. Over 80,000 vehicles a day pass this location.

The property is 100% occupied by Veyance Technologies, Inc. with a lease through 12/31/2018. Annual NOI is $2,256,587.04.


Financials