Listed by Cushman & Wakefield CRESCO Real Estate
Unpriced
5335 Avion Park Drive
Details
Property Type Industrial
Square Footage 75,167
Cap Rate 7.94%
NOI $563,814
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $94
Year Built 1994
Acreage 8.640
Parking Spaces 174 spaces
Parking Per SqFt 2.31
Investment Type Stabilized
Tenant Credit Credit Rated
Ground Lease No
Ceiling Height 16'
Dock High Doors 7
About This Property
Investment highlights
- Sticky Investment-Grade Tenancy - The current tenancy has been in place for an average of 18+ years. Further, Stanley Black & Decker, Inc. (60,000 SF; February 2030 LXP) - a publicly-traded investment-grade tenant (S&P: A) - represents approximately 81% of NOI generated from the Property and has been in the building since 2002.
- Prime Location - The Property benefits from its adjacency to the Cuyahoga County Airport, quick access to I-271 (3.4 miles) and I-90 (5.4 miles) thoroughfares and proximity to a strong skilled labor workforce in Cuyahoga County with average household incomes being $78,429 in a 2-mile radius.
- Mission-Critical Infrastructure - Warehouse is climate-controlled with Full HVAC, which is critical to Stanley Black & Decker's operations at the Property.
- NNN Lease Structure - Limited capital exposure with NNN lease structure and Roof Warranty in place through 2037.
- Market Reset, Rent Resilience - Vacancy moved to 3.9%, up from 2.8% at year end 2024, and year-to-date net absorption closed at negative 3.3 million square feet (msf) versus positive 1.1 msf at year end 2024. After a run of exceptional years, the numbers are telling us the market is catching its breath, absorbing what was built, and moving back toward more traditional fundamentals. The encouraging takeaway is that pricing has remained resilient, asking rents ended 2025 at $5.78 per square foot (psf), only modestly below the $5.91 psf record set at year end 2024, and up from $5.59 psf in the third quarter.
Listing Contacts
Listed by Cushman & Wakefield CRESCO Real Estate
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Loan Amount
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Annual Cash Flow
$563,814.41
$46,984.53/mo
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