Office Building Sold In Mayfield Heights

MAYFIELD HEIGHTS, OH — A 460,000-square-foot office building in Mayfield Heights has been sold for $61.1 million. Mohr Capital, a private real estate firm in Dallas, sold the property, which is leased by Rockwell Automation.

"At the time we acquired the building two years ago, the property was under foreclosure proceedings and Rockwell Automation, Inc. had only three years of lease term remaining. Due to our existing relationship with Rockwell Automation, we saved them millions in rent while stabilizing the property with a long-term lease, creating substantial value for both sides," said Rodrigo Godoi, director of acquisitions for Mohr.

The sold property is located on Allen Bradley drive. Mohr said there were no brokers involved in the sale.

The company described the sale as off-market.