April 2018 Sequoia Market Update ~ Sequoia Realty Corp.

April 2018 Sequoia Market Update

Contents of this Newsletter

Sequoia Realty Corp. Brokers Sale of 7501 Carnegie Ave to Cleveland Food Hub

New on the Market at Sequoia Realty Corp.

               Industrial Investment, Mentor, OH
               2 Retail Buildings, Painesville Twp., OH
               Large Office Building & Office Condo, Mentor, OH
               Industrial in Wickliffe, Fairport Harbor & Kirtland, OH

SOLD/LEASED at Sequoia Realty Corp.

PENDING! at Sequoia Realty Corp.

April 2018 Sequoia Market Update

Sequoia Realty Corp. Brokers Sale of 7501 Carnegie Ave 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.

New on the Market at Sequoia Realty Corp.

7150 Hart & 7165 Center St., Mentor, OH

INDUSTRIAL INVESTMENT

2 Buildings - 32,000 Sq. Ft. & 16,500 Sq. Ft.
10 Units & 6 Tenants in Each Building
100 % Occupied!
Great Condition!
For Sale @ $2,350,000
Call Rick Ferris - 440.946.8600 x 103
Email: Rick@sequoiarealty.com

1657 Mentor Ave., Painesville Twp., OH

13,992 Sq. Ft. 2-Story Building
6,264 Sq. Ft. Retail 1st Floor
7,728 Sq. Ft. Office 2nd Floor
1.28 Acres - Great for Redevelopment
Large Parking Lot - 64 Spaces
For Sale @ $399,000 (only $28/SF!)
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com

1388 Mentor Ave., Painesville Twp., OH

1,584 Sq. Ft. - Retail
Large Lot - 1.81 Acres
Across from Painesville Commons
NO City Income Taxes!
For Sale @ $295,900
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com

8850 Tyler Blvd., Mentor, OH

13,000 Sq. Ft. Office on 2.35 Acres
80+ Parking Spaces
Fiber Optic to Building
Completely Networked
Wired for 80 High-Speed Internet Terminals
Secure Server Room
For Sale @ $1,095,000
Call Rick Ferris - 440.946.8600 x 103
Email: Rick@sequoiarealty.com

6988 Spinach Dr., Mentor, OH

900 Sq. Ft. Office
Great Office Park Area
Private Offices, Conference Room, Kitchenette
Updated and Ready to Go!
Easy Access to S.R. 2 & I-90
For Sale @ $79,000
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com

29030 Anderson Rd., Wickliffe, OH

2,400 Sq. Ft. - Very Clean
Open Lay-Out - 100% A/C
Newer Roof
Zoned Industrial
For Sale @ $159,900
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com

210 River St., Fairport Harbor, OH

2,432 Sq. Ft. Industrial
w/ Small Single Office & 1 Drive-In Door
Next to Pickle Bills, Brennan's & Grand River Yacht Club
Located off of Heisley Rd.
For Lease @ $5.25/ Sq. Ft.
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com

7637 Euclid Chardon Rd. (Rt. 6), Kirtland, OH

5,000 Sq. Ft.
1/2 Office & 1/2 Warehouse
1 Drive-In Door
Huge Yard on 0.80 Acre
For Sale @ $339,000
Call Patrick Dowd - 216.406.0476
Email: Patrick@sequoiarealty.com