The property at 5335 Avion Park Dr. has access to I-90 and I-271. It was built in 1994. Stanley leases 50,000 sf, taking the building to 66% occupancy at the outset.
Terms of both the sale and lease are undisclosed. Area brokers tell GlobeSt.com average asking rental rates at industrial space in the area are approximately between $4.40 per sf and $5.52 per sf.
Art Marcus of Duke worked with Fred Herrera of the Cleveland office of Los Angeles-based CB Richard Ellis on the transaction.
Stanley is a worldwide supplier of tools, hardware and doors.
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