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Industrial Industrial Homes of Solon stayed legitimate to its initial identify with its latest invest in, a hulking 350,000-square-foot creating at 1333 Chillicothe Road, Aurora.
ICP paid out $10.75 million for the constructing May 6, in accordance to Portage County land documents.
Chris Semarjian, ICP’s operator, explained in a telephone job interview Thursday, June 2, that the absolutely leased building has 6 tenants. He reported he noticed it as a opportunity to include a construction in a solid suburb to the firm’s portfolio.
“It really is a massive constructing, and we strategy to make it greater,” Semarjian mentioned. “It truly is getting more time to build buildings, so there is much more chance in present ones.”
Plans by Vocon, the Cleveland architecture agency, will give the structure with sizeable frontage the search of a 2020s creating somewhat than its existing, dated 1970s visual appearance. In addition to a new entrance, the making will receive new paving and up to date, vitality-efficient lights.
Semarjian declined to disclose the spending budget for the updates, which he claimed he thinks will shell out off more than the extended haul.
The seller was Custom Associates, which is led by Chris Smythe and Bob Herman, both equally associates of the Smythe family members that at first designed the home, according to Portage land records.
Semarjian reported he felt a specific attachment for the house, as he experienced taken care of it when he started off his professional genuine estate brokerage occupation at the previous Cragin, Lang, Free & Smythe Inc. of Cleveland.
“I worked for (the late) Jeff Smythe at Cragin Lang, and Jeff’s brother, (the late) Peter Smythe, experienced developed the house,” Semarjian claimed.
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