Newmark closed the sale of 5370 Wegman Drive, a 135,412-square-foot warehouse property in Valley City, Ohio.
Newmark Vice Chairman Terry Coyne and Director Claire Coyne, with Viktoria Reiser, Director with Knight Frank Munich|Germany, represented the undisclosed seller, a German manufacturer, in the sale to an undisclosed buyer. Coyne has a long-standing relationship with the seller, with a partnership that spans 15 years.
5370 Wegman Drive—a two-story warehouse building on 16.83 acres—features five docks, two drive-in doors, 23- to 26-foot clear height, auto lifts with four risers, fluorescent and LED lighting, auto and truck decks, ample parking and warehouse racks.
The building is in Valley City, about 25 miles from Cleveland. Close to Interstate 71, the main highway between Cleveland, Columbus and Cincinnati, the property is ideally situated for product distribution.