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STREETSBORO, OH-AIC Ventures recently bought the 68,569 sf corporate headquarters and manufacturing facility here for Spero Electric Corp. in a sale-leaseback transaction. The sales price was not disclosed, but a spokeswoman for AIC says this is the fifth acquisition, with the company so far spending about $30 million, of a $300 million real estate fund, NL Ventures VI LP. “So far, we’ve raised about $100 million for the fund, and we’re going to keep buying properties,” she tells GlobeSt.com.

The Spero property is on an 11-acre parcel at 1790 Miller Parkway, and consists of 58,000-sf of manufacturing space, with the rest of the space used as the company’s office headquarters. The property was built in 1995 and expanded in 2004. Spero is a family-owned manufacturer of lighting fixtures, and is using the proceeds from the sale to AIC to help fund the launch of a new, high-end fixture called the Prospetto line. “The line will be blown glass, and these fixtures are being marketed to the Las Vegas casinos,” the AIC spokeswoman says.

She says she could not reveal the rate signed by the more than 15-year lease. Streetsboro is a suburb of Cleveland, and average industrial lease rates for this type of property average at more than $4.20 per sf, according to a first-quarter market report by Grubb & Ellis.

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