October 29, 2020
The Boulder Group completed the sale of a single-tenant School Specialty, Inc. location at 100 Paragon Pkwy. in the Cleveland suburb of Mansfield, OH for $10.5 million. The seller was a private individual advised by longtime asset manager Mesirow Realty Sale-Leaseback, and the buyer was a Northeast-based REIT.
The 314,736-square-foot facility is located in an industrial corridor off North Main Street which connects to Martin Luther King Jr Freeway, a primary thoroughfare. It features 49,500 square feet of office space and the facility can be expanded to more than one million square feet.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The current School Specialty lease expires in October 2025 and is absolute-NNN, with no landlord responsibilities.
School Specialty is a leading distributor of supplies, furniture, technology products, supplemental learning products, and curriculum solutions to the education marketplace.
For comments, questions or concerns, please contact Paul Bubny