August 12, 2019
Global Net Lease recently acquired a single-tenant property occupied by Xerox subsidiary ComDoc in North Canton, OH. The 107,500-square-foot office and distribution center at 8247 Pittsburg Ave. NW traded for $17.6 million.
Stan Johnson Company’s Rob Gemerchak, Jeff Hughes and Jeff McKinney represented the seller, Industrial Commercial Properties LLC. The newly-constructed facility was built-to-suit for ComDoc and will operate as its corporate headquarters.
The facility also includes ComDoc’s national parts reclamation center and regional distribution center. The current lease term runs through 2029, according to Global Net Lease.
“The strong market interest this project received from regional and national investors demonstrates the demand for high quality net lease industrial and office product,” said Gemerchak, a director in SJC’s Toledo, OH office. “Even quality facilities located outside major metropolitan markets are in high demand.”
For comments, questions or concerns, please contact Paul Bubny