CBRE has arranged the sale of a 94,000-square-foot industrial research and development (R&D) facility in Warren. PG Warren Industrial LLC purchased the property from Industrial Commercial Properties for $9.4 million.
CBRE’s Steve Timmel, Will Roberts and George Stevens represented the seller in the transaction. “Investor interest in northeast Ohio remains strong, especially for high-quality industrial R&D assets similar to 4551 Research Parkway,” said Timmel. “In such a competitive market, properties with these qualities stand out as rare and valuable acquisition opportunities.”
The building is located at 4551 Research Parkway, proximate to the interchange of State Routes 82 and 45. Built in 1998 and renovated in 2014, the property features 22-foot clear heights, 10 drive-in doors, and a reinforced concrete foundation on an 11.85-acre site. The property was 100% occupied by Aptiv at the time of the sale and is part of the company’s broader Warren campus.
