Sequoia Realty Corp. Brokers Sale of 7501 Carnegie Ave
to Cleveland Food Hub
to Cleveland Food Hub
Patrick Dowd,
Vice President of Sequoia Realty Corp, brokered the sale of 7501 Carnegie
Avenue in Cleveland, Ohio to Cleveland Food Hub. When Sequoia lists a property
for sale, they take a multi-faceted approach to marketing including networking
within the broker community. Through this networking it was Eliot Kijewski of
Cushman & Wakefield | CRESCO Real Estate who was able to secure a buyer for
the property.
The 7501
Carnegie property, which features 137,670 square feet of temperature-controlled
food grade space, is located in Cleveland’s resurging MidTown district (this is
Sequoia’s second significant transaction in Midtown in a month having
represented the buyer at 4020 Payne.) The new facility, purchased by entrepreneurs
Gordon Priemer and Eric Diamond, will house their innovative new venture, the
Cleveland Food Hub. The Food Hub will house tenants including their existing Cleveland
Culinary Launch and Kitchen (CCLK), currently located at 2800 Euclid Avenue.
CCLK was formed in 2018 to help launch or grow local food businesses by
offering fully equipped shared commercial kitchen space, business support, classes
and workshops, mentorship and networking opportunities. The new facility will
not only house the incubator, but also offer manufacturing, food co-packing,
and warehousing for local craft food entrepreneurs. Additionally, there will be
retail space along Carnegie. Tenants who are already signed on for the space
include Souper Market and Cleveland Bagel – two local favorites.
Finding the right buyer for a specialized
facility such as this is not always a simple task. After a year of working with
another commercial realtor, Greg Fritz, President of Produce Packaging, Inc.
turned to Patrick Dowd with Sequoia to sell the 7501 Carnegie property.
“Patrick and Sequoia did a terrific job,” stated Fritz. “They generated a lot
of activity and got a lot of potential buyers to visit our facility.”
Among the
potential buyers, Dowd and Kijewski found a match with Priemer and Diamond’s
Food Hub. “The experience was absolutely great,” Diamond explained, “Patrick
[Dowd] from Sequoia could not have been more responsive or professional.
It was this attitude that allowed this somewhat complex transaction to
move to completion. Both he and Eliot [Kijewski] worked incredibly hard
on this deal.”
The hard
work on the part of all parties has paid off. Construction on the facility is
well underway and the first tenants are set to move in on May 1.
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Sequoia Realty Corp., based in Mentor, Ohio, has been
serving commercial Real Estate needs in Northeast Ohio for over 30 years. Sequoia
Realty focuses on two overlapping commercial real estate markets in Northeast
Ohio. The first market is retail, office and industrial properties in Lake and
adjacent counties. The second market is investment realty, specifically
income-producing properties valued at $1 million and more. Sequoia Realty uses
a team approach in conducting daily business enabling better service to its
clients. For information, please contact
Rick Ferris, President, Sequoia Realty Corp., 440.946.8600 or rick@sequoiarealty.com.
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