Marcus & Millichap is pleased to present the Single Tenant Net Leased Industrial Office Building located at 5161 W 164th St, Brook Park, Ohio. The building tenant, Ohio Envelope’s NNN lease extends until 2023 with approximately three percent annual rent increases. The 35,079 square foot property has 19 foot ceilings and functions as both an office and industrial space. Of the leased space used 84% of the property is allocated for industrial use and the remaining 16% used as office space. Ohio Envelope is an Ohio based envelope manufacturing company that has been headquartered at this location since 1965. The company prides itself on their high speed and special run equipment which allows them to produce products in quantities of all sizes. Ohio Envelope promises high quality throughout the entire process of ordering, production, and shipping. Aiding to maintain this quality, the company works diligently to provide customers with a focused buying experience through detailed processes, quick turnaround, and customized closing/sealing options.
The property is in Brook Park, Ohio, which is situated in the northeast region of Ohio, and is approximately 14 miles southeast of Cleveland. The industrial office space is located in a dense industrial pocket in Brook Park, being approximately one and a half miles from Ford Motor Company – Cleveland Engine and two and a half miles from Cleveland Hopkins International Airport. Access to the property is convenient t via I-71 a main route for the Cleveland metro. The Cleveland MSA is also part of the larger Cleveland–Akron–Canton, OH Combined Statistical Area with a population 2010 of 3,515,646, the largest metropolitan area in Ohio and 16th in the country. The city of Cleveland is home to many company headquarters, including Sherwin Williams and Parker-Hannifin. Due to its location on both Lake Erie and the Cuyahoga River the city is established as an important business center for steel and other manufactured goods. The City is also home to the Cleveland Clinic, which carries the distinction of being one of America’s best health systems. Additionally, the Cleveland are is home to a multitude of colleges, museums, and public theatre, which all aid in providing the city with a rich and diverse culture. The Brook Park sub-market is also commercially dense with both office, hotel, and retail amenities, providing convenience to the employees of the tenant and their clients.
