150 Loomis Parkway
Exclusive Offering: 150 Loomis Pkwy | 12.4‑Year WALT Industrial Investment
Marketing description
CBRE Investment Services has been exclusively retained to market the fee simple interest in 150 Loomis Parkway, a 461,038 SF industrial facility in the Cleveland market. The property is 97.53% leased to Boston Group and Ascenso Tires, delivering 12.4 years of WALT and stellar yield for today’s industrial investment environment.
Situated on 33.8 acres, the full renovated manufacturing and distribution facility features 26'–28' clear heights, 34 docks, and 5 drive-ins. Boston Group anchors the asset with a 20‑year net lease (2022 start, 2% bumps) and plans to consolidate additional operations on-site by 2026 year end. Ascenso Tires commenced its lease in May 2026, backfilling the prior tenant with zero downtime.
Boston Group, founded in 1937, is a third‑generation manufacturer of custom metal and plastic retail fixtures with global operations and a 60‑person Ohio team. Ascenso Tires, established in 2017, is a rapidly expanding global off‑highway tire brand with distribution in 85+ countries and a portfolio of 1,000+ SKUs.
Investment highlights
- Significant Commitment by Boston Group — Boston Group is consolidating all U.S. operations here under a lease through 2042, reinforcing long‑term stability.
- Market Headlines — Major investments like Kimberly‑Clark’s $800M facility and Vallourec’s expansion highlight strong regional industrial momentum.
- Functional Facility With Scale — One of Portage County’s largest industrial assets, upgraded and suited for manufacturing, warehousing, and distribution.
- Net Leased With Term — A 12.4‑year WALT with net leases, annual increases, and below‑market rents supports durable, growing income.
- Building Upgrades — A new roof over Boston Group space, ESFR upgrade, paving, concrete, paint and LED conversions.
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