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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).