Investment Property
Active
Crocker Commons Portfolio (2205-2237 Crocker Road)
2205-2237 Crocker Road, Westlake, OH 44145 United States
Building Class
Class A
Building Size
99,178 SF
Lot Size
8.58 Acres
Construction Status
Existing
Building Class
Class A
Building Size
99,178 SF
Lot Size
8.58 Acres
OVERVIEW
The property is situated in Westlake, OH, one of Cleveland's premier suburban markets, with a median household income of over $103,000. It comprises a Class A 3-building portfolio, with 62% of the portfolio completed in 2024. The portfolio features long-term tenants with national credit, including medical and professional office users, and is characterized by landlord-friendly leases that entail minimal responsibilities and yearly rent increases. This investment has a proven track record of steadily increasing rents, with a weighted average lease term remaining (WALT) of 7.75 years. Remaining office vacancies are likely to benefit from medical users, who typically command higher rents and longer lease terms compared to standard office tenants. Additionally, the property is directly adjacent to a new retail development, Crocker Commons, and is located across from Crocker Park, an award-winning mixed-use development spanning 4.5 million square feet.
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Details
- Building Class:
- Class A
- Building Size:
- 99,178 SF
- Sale Price:
- $20,000,000 USD
- Lot Size:
- 8.58 Acres
- Construction Status:
- Existing
- Year Built:
- 2003
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LOCATION
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