100% Occupied 97,845 Square Foot Class-A Office HQ Building in Fairlawn, OH (Cleveland CSA – Over 3.6m People)
Global Headquarters For ContiTech | Occupies 83,416 SF | 85.25% of the GLA | Recently Expanded Into Additional Space and Made Major Upgrades/Renovations to Space
Wholly Owned by Continental AG | Ticker Symbol: CON | Annual Revenue In Excess of $44B | Over 230,000 Employees | Ranked #512 Largest Company in the World by Forbes | BBB Investment Grade Rating
Continental is Structured into Six Divisions: Chassis and Safety, Powertrain, Interior, Tires, ContiTech, and Advanced Driver Assistance Systems
ContiTech has Been at Site For Over 15-Years | Currently Paying $18/SF NNN | Two 5-Year Options Remaining | 10% Bump in First Option
Mission Critical Location for ContiTech/Continental AG | Includes Lab Space and Show Rooms | C-Suite Offices | Designated Space for All Business Operations
Remaining Space is Occupied by Lyondellbasell | Lyondellbassell Acquired A. Schulman in 2018 | Prior to Acquisition this was A. Schulman HQ | 14,429 SF and 14.75% of GLA
Lyondellbasell | Ticker Symbol: LYB | Annual Revenue in Excess of $46.1B | Over 19,1000 Employees | Ranked #297 Largest Company in the World by Forbes
Assumable Non-Recourse Financing Available | Below Market Interest Rate of 4.95% | Just Shy of 4-Years Until Maturity | 30-Year AM | Reasonable 68.69% LTV | Loan Type: CMBS
Anticipated Returns | 11.89% Cash-on-Cash in Year 1 | 16% Total Return in Year 1 with Principal Paydown
Surrounding Office Market has Over 27.4m SF of Office Space with Low Vacancy Rate of 5.7% Per CoStar | Virtually No New Office Developments Nearby
One of the Only Class-A Office Buildings in Entire MSA | On Par with Average Rents Despite Being Best-In-Cass | Ranked One of Highest Quality Office Properties in MSA
Favorable NNN Lease Structures | Full Recapture of Tax, CAM, Insurance Expenses | 3rd Party Management Fees Reimbursed by Tenants | Virtually No Landlord Responsibilities
Hard Corner Location Directly Off State Route 77 | Sees Over 93,400 Vehicles Per Day | Immediate Access to Major Throughways & On Route to Major Neighboring Cities | Near Major Retail Corridor Providing Abundance of Food, Shopping, and Other USes
Dense & Affluent Demographics | Population Counts of 31,700 within 2-Mile, 76,328 within 5-Miles | Average Household Income In Excess of $130,883
Fairlawn is Part of Cleveland-Akron CSA with Population Count Over 3.6m | Only 25-Min From Downtown Cleveland | Only 20-Min From Downtown Akron