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Chicago & Midwest  + Midwest  + Industrial  |  January 10, 2024
Jasmine Kilman
By: Jasmine Kilman

Matthews Closes Industrial Deal in Cleveland Metro for $11.5M

Matthews Real Estate Investment Services, a commercial real estate investment services and technology firm, completed the sale of 30701 Carter Street in Solon, Ohio. The single-tenant manufacturing property sold for $11.52 million. Associate Vice President Matt Kovesdy represented the buyer in the transaction. The sale was the largest owner-occupier industrial transaction for the Cleveland market in 2023 by square footage.

The industrial facility spans 337,000 square feet across 17.68 acres. The seller, Cosmax USA, seized operations at the property in January 2023. The company is relocating equipment and resources to various markets throughout the U.S. The company has been operating in Solon since 2015.

The buyer, Mytee Products, will look to perform facility improvements to shift its use from manufacturing to distribution. Mytee Products intends to move its operations into 228,500 square feet of space in May 2024. Matthews represents the remaining 67,000 square feet for lease in the primary building and 34,500 additional square feet in the stand-alone building.

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Matthews Real Estate Investment Services

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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