Matthews Real Estate Investment Services™ completed the sale of 30701 Carter St. in Solon, Ohio, a single-tenant manufacturing property, for $11.52 million.
Associate Vice President Matt Kovesdy represented the buyer in the transaction. The sale was the largest owner-occupier industrial transaction for the Cleveland market in 2023 by square footage.
The industrial facility spans 337,000 square feet across 17.68 acres. The seller, Cosmax USA, seized operations at the property in January 2023. The company is relocating equipment and resources to various markets throughout the U.S. The company has been operating in Solon since 2015.
The buyer, Mytee Products, will look to perform facility improvements to shift its use from manufacturing to distribution. Mytee Products intends to move their operations into 228,500 square feet of space in May 2024. Matthews™ is representing the remaining 67,000 square feet for lease in the primary building and 34,500 additional square feet in the stand-alone building.
