
Net Leased Optical Lab Trades in Youngstown, OH
A single-tenant net leased Classic Optical Laboratories property in Youngstown, OH has traded for approximately $2.7 million. The 29,710-square-foot flex building at 3710 Belmont Ave. has been used by Classic Optical since 1982 to manufacture prescription lenses.
The tenant renewed its three-year lease commitment early, signaling its ongoing commitment to the property. It has also planned a $4-million renovation and expansion of the facility.
The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller, a private family based in the Southeast. The buyer was a high net worth investor from the West Coast.
“The market for industrial/flex net lease properties remains active, as these assets are in high demand among both institutional and private investors,” said Blankstein, president of The Boulder Group.
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