{"id":1004113486,"date":"2015-02-15T21:56:48","date_gmt":"2015-02-16T05:56:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=324579"},"modified":"2020-04-08T00:36:31","modified_gmt":"2020-04-08T08:36:31","slug":"new-york-investors-buy-twinsburg-office-complex-for-13m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-york-investors-buy-twinsburg-office-complex-for-13m\/","title":{"rendered":"New York Investors Buy Twinsburg Office Complex for $13M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Canyon-Falls-Corporate-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-324580\" title=\"Canyon Falls Corporate Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Canyon-Falls-Corporate-Center.jpg\" alt=\"\" width=\"300\" height=\"215\" \/><\/a>A Greater Cleveland office complex changed hands last month. Luttner Real Estate Investment Services announced that Twinsburg\u2019s Canyon Falls Corporate Center was acquired by an unnamed investment group from New York for $13.1 million.<\/p>\n<p style=\"text-align: justify;\">The Class A office complex consists of three buildings at 8920, 8921 and 8957 Canyon Falls Blvd. Together, they offer 94,316 square feet of space. Two of the properties are single story. The third has two stories and a full-service elevator, which was completely gutted and retrofitted in 2013.<\/p>\n<p style=\"text-align: justify;\">Mark Luttner and Dan Lariccia sold the property on behalf of the previous owner, a Snavely Development Co. partnership. According to a news release from Luttner Real Estate, the Canyon Falls Corporate Center was 98 percent leased at the time of the sale.<\/p>\n<p style=\"text-align: justify;\">Envision RX Options Inc. anchors the office complex, occupying 64 percent of its total space. The Canyon Falls Corporate Center serves as Envision\u2019s national headquarters. The tenant roster also includes The Shelly Co., Kaiser Permanente and Gateway Hospitality Group.<\/p>\n<p style=\"text-align: justify;\">According to CBRE, the Cleveland office market finished 2014 with an overall vacancy rate of 19.7 percent. Meanwhile, rental rates remained fairly stable in fourth quarter \u00a02014, reaching $17.7 per square foot.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><em>\u00a0<\/em><a href=\"https:\/\/www.luttnerretail.com\" target=\"_blank\" rel=\"nofollow\"><em>Luttner Real Estate Investment Services<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Greater Cleveland office complex changed hands last month. Luttner Real Estate Investment Services announced that Twinsburg&rsquo;s Canyon Falls Corporate Center was acquired by an unnamed investment group from New York for $13.075 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[],"class_list":["post-1004113486","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New York Investors Buy Twinsburg Office Complex for $13M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-york-investors-buy-twinsburg-office-complex-for-13m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New York Investors Buy Twinsburg Office Complex for $13M\" \/>\n<meta property=\"og:description\" content=\"A Greater Cleveland office complex changed hands last month. Luttner Real Estate Investment Services announced that Twinsburg&rsquo;s Canyon Falls Corporate Center was acquired by an unnamed investment group from New York for $13.075 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-york-investors-buy-twinsburg-office-complex-for-13m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-16T05:56:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-08T08:36:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/Canyon-Falls-Corporate-Center.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"New York Investors Buy Twinsburg Office Complex for $13M\",\"datePublished\":\"2015-02-16T05:56:48+00:00\",\"dateModified\":\"2020-04-08T08:36:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/\"},\"wordCount\":208,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/Canyon-Falls-Corporate-Center.jpg\",\"articleSection\":[\"Cleveland\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/new-york-investors-buy-twinsburg-office-complex-for-13m\\\/\",\"name\":\"New York Investors Buy Twinsburg Office Complex for $13M - 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