{"id":1004203065,"date":"2018-01-10T06:48:13","date_gmt":"2018-01-10T14:48:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203065"},"modified":"2022-12-08T02:09:41","modified_gmt":"2022-12-08T10:09:41","slug":"mohr-capital-acquires-460-ksf-cleveland-office-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/","title":{"rendered":"Mohr Capital Acquires 460 KSF Cleveland Office Center"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<p>Mohr Capital has bought a 460,000-square-foot office center in Mayfield Heights, a suburb of Cleveland, for $52 million. The property, which was part of Norman Rockwell Ohio LLC&#8217;s portfolio, is fully NNN leased by Rockwell Automation Inc. and serves as the second employment center for the company.\u00a0<\/p>\n<p>The asset is located at 1 Allen Bradley Drive and spans 36 acres. The three office buildings which make up the center were completed in 1995,\u00a0along with\u00a0the adjacent\u00a0parking lot which can accommodate up to 970 vehicles.<\/p>\n<h2>Acquisition history<\/h2>\n<p>The tenant owned the property until 2005, when it sold it to First Industrial Realty Trust, Yardi Matrix data shows. Norman then\u00a0bought the asset in 2006 from UBS Realty Investors but, according to <em>Crain&#8217;s Cleveland Business<\/em>, was unable to close on the loan and filed for foreclosure in April 2017.\u00a0<\/p>\n<p>The property is close to Interstate 271 and is approximately 30 minutes from downtown Cleveland. The nearby area hosts the offices of other companies such as Ferro Corp., Selman &amp; Co. and Elk &amp; Elk Co.\u00a0<\/p>\n<p>Rodrigo Godoi, director of acquisitions with Mohr Capital, negotiated the transaction. In December 2017, Mohr Capital invested $11.4 million for acquiring another <a href=\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-picks-up-charlotte-office-asset\/\">office asset in Charlotte, N.C.<\/a><\/p>\n<p><em>Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction was negotiated by Rodrigo Godoi, director of acquisitions with Mohr Capital, and closed at $52 million. The property is fully leased.<\/p>\n","protected":false},"author":1064,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21743,13,21742,21747],"tags":[38841],"class_list":["post-1004203065","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-deals","category-midwest","category-latest","category-office","tag-mohr-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mohr Capital Acquires 460 KSF Cleveland Office Center - 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\/mohr-capital-acquires-460-ksf-cleveland-office-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mohr Capital Acquires 460 KSF Cleveland Office Center\" \/>\n<meta property=\"og:description\" content=\"The transaction was negotiated by Rodrigo Godoi, director of acquisitions with Mohr Capital, and closed at $52 million. The property is fully leased.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/\" \/>\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=\"2018-01-10T14:48:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T10:09:41+00:00\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/\",\"name\":\"Mohr Capital Acquires 460 KSF Cleveland Office Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2018-01-10T14:48:13+00:00\",\"dateModified\":\"2022-12-08T10:09:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fea14f28ef4cea0e4f36b0516e632ebb\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mohr Capital Acquires 460 KSF Cleveland Office Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fea14f28ef4cea0e4f36b0516e632ebb\",\"name\":\"Gabriel Circiog\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6ddbbbe4a5e8a5d029214b4a9099495111d971242a7b4ca0b89a5012990e1ab0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6ddbbbe4a5e8a5d029214b4a9099495111d971242a7b4ca0b89a5012990e1ab0?s=96&d=mm&r=g\",\"caption\":\"Gabriel Circiog\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gabrielcirciog\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Mohr Capital Acquires 460 KSF Cleveland Office Center - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/mohr-capital-acquires-460-ksf-cleveland-office-center\/","og_locale":"en_US","og_type":"article","og_title":"Mohr Capital Acquires 460 KSF Cleveland Office Center","og_description":"The transaction was negotiated by Rodrigo Godoi, director of acquisitions with Mohr Capital, and closed at $52 million. 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