Industrial i Ohio

Lee & Associates closes industrial sale for R&D facility in Ohio

Lee & Associates has closed on an investment opportunity for an R&D manufacturing facility in Geneva, Ohio. The property is divided into two buildings, totaling about 239,454 square feet, and was renovated in 2006 and 2008.

Lee & Associates has closed on an investment opportunity for an R&D manufacturing facility in Geneva, Ohio. The property is divided into two buildings, totaling about 239,454 square feet, and was renovated in 2006 and 2008.

At the time of the purchase, 10 years remained on the 15-year triple-net lease with Hunter Defense Technologies (HDT Global, Inc.). HDT Global, Inc. is the manufacturer and supplier of products made for mobile expeditionary missions in extreme environments, working with all branches of the military and the commercial market.

Ryan Barr and Ryan Bennett, principals of Lee & Associates – North San Diego County and founders of Barr & Bennett Net Leased Investment Group -- along with Joseph Greenberg, principal of Lee & Associates Cleveland represented the sellers, Chadbourne Industries and Austieboy, LLC.

The buyer, Triple Net Acquisitions, LLC, was represented by Brian Garbutt, senior vice president of Lee & Associates – Irvine. Triple Net Acquisitions, LLC purchased the single tenant NNN property for $14.3 million with plans for a long-term hold on the investment.