A formerly abandoned school in a suburb of Cleveland has been repurposed with a new, state-of-the-art warehouse that has potential tenants lining up.
The development of 24200 Aurora Road in Bedford Heights, Ohio, has earned a 2023 CoStar Impact Award for commercial development of the year, as judged by real estate professionals familiar with the Cleveland market.
The property is a 145,006-square-foot warehouse and distribution center that was completed in the second quarter of 2022. Indianapolis-based Scannell Properties developed and owns the industrial facility.
This 8.38-acre site was an abandoned public school and is located in an "opportunity zone," the federal program meant to encourage development in areas designated as economically distressed.
The 24200 Aurora Road project did not have a tenant attached to it upon its completion. However, by the first quarter of 2023, Chick-fil-A Supply LLC signed a long-term lease for the entire property with an anticipated move-in date in the third quarter of 2023. Chick-fil-A Supply is the warehousing and distribution subsidiary of fast-food giant Chick-fil-A.
About the project: The warehouse has 145,000 square feet of space built on more than 8 acres. The building also features 7-inch concrete floors, 124 automobile parking spaces, 18 truck trailer parking spaces, high-bay LED lighting, 32-foot clear height and 11 docks and drive-in doors to-suit.
What the judges said: "Located in an opportunity zone, this project with bring more impactful economic development to the residents than the other projects," said Eric Hughes, senior manager of asset management at the Greater Cleveland Partnership.
"The Bedford Heights location ... brings new jobs to a more densely populated part of Cleveland," said Antonin Robert, president of community development at GBX Group LLC.
They made it happen: Newmark's Vice Chairman Terry Coyne and team represented Scannell in marketing the property.
