Ray Fogg Corporate Properties is breaking ground on the first project in its Bluestone Business Park in Euclid, Ohio.
Fogg will develop a speculative multi-tenant industrial building of more than 103,000 square feet. The building will feature clear heights of 32 feet and ESFR sprinklers. It will also incorporate sustainable design criteria for the shell building to meet LEED Silver standards.
The building will be ready for occupancy in the fourth quarter of 2013.
The first 32,000 square feet of the building has already been pre-leased to Remedi Seniorcare of Ohio-Northeast LLC. The company will use this portion of the building as an institutional pharmacy. This leaves 71,000 square feet for additional tenants.
“We believe the market is ripe for this development,” said Ray Fogg Jr., president of Ray Fogg Corporate Properties, in a written statement. “There is almost no inventory of modern high-bay industrial space in Northeast Ohio. We are confident that the market is craving this product type.”
© 2014 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or email@example.com