Caspian Group Acquires Shoreway Commerce Park In Cleveland For $9M

The Shoreway Commerce Park, a 445,682-square-foot industrial campus in Cleveland, Ohio, has been sold by First Interstate Properties to Caspian Group for $9 million. The property offers modern logistics facilities and easy access to Interstate 95, making it highly desirable in the Cleveland market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $9,000,000
• Address: 799 East 73rd Street, Cleveland, OH
• Market: Cleveland, OH
• Acres: 27

Patrick Corbett from Caspian Group acted as the buyer, while Chris Goodrich from First Interstate Properties represented the seller. The acquisition loan of $13 million was arranged through Standard Insurance Company, with mortgage brokers Andy Finn and Mark Jeffries from NorthMarq facilitating the process.

Note: According to Cushman & Wakefield, the Shoreway Commerce Park is a highly sought-after property due to its modern facilities and prime location in the Cleveland market.