The building located at 7711 E. Pleasant Valley Rd is a jewel of the IAC portfolio with over 500,000 sq of warehouse space and close to 100,000 sq feet of Office space. With more than 18 shipping bays, this property has served as the corporate headquarters of Kichler Lighting for over 30 years. IAC is hoping to find a single tenant or multiple tenants that would lease the entire space and therefore it is undertaking a national search of companies interested in the facility. “We are confident there are companies looking to expand to Ohio or looking for more space in the Cleveland area and we hope to attract them toward this building in Independence. Independence is a gem and by many, said to be one of the best places to live in Ohio, with it’s natural beauty, incredible residents, highly rated schools, this business friendly community has much to offer,” said Dennis Breen, Manager of IAC. Over the last several weeks, IAC has interviewed several national and local firms. There has been intense competition to represent this property. After many deliberations, the company has retained commercial real estate brokerage Newmark to help it explore its options. With the team led by Terry Coyne, SIOR, CCIM (terrycoyne.com/) it is expected that any new tenant of this size will want to work with Mayor Gregory P. Kurtz and the Independence City Council to ensure a successful introduction to a new neighbor.
IAC, also known as Independence Acquisition Company, is an Arizona company owned by two brothers, Dennis & Michael Breen. The company acquired the property several years ago and hopes to work closely with the new tenant(s) including investing additional capital to expand the warehouse ceilings or number of docks. IAC is currently reviewing proposals that would upgrade the building with Solar Electric Panel on the roof and is expecting to build out covered parking with electric chargers.
For more information:
Contact : Stacey Fox, Senior Vice President
Edgewater Financial LLC, Manager
For more information on Terry Coyne of Newmark:
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