Newmark is pleased to announce that Tuff Shed, a manufacturer and installer of storage buildings and garages, has signed a long-term lease of the remaining 34,714 square feet at 600 Beta Drive in Mayfield, Ohio.
Newmark Vice Chairman Terry Coyne and Managing Director Kristy Hull represent Weston, Inc., the current owner/landlord of the now fully-occupied 93,400-square-foot industrial/flex building. As of early-November, the property is being marketed by Newmark as an investment sale.
“We’re excited to offer this exceptional property as an investment sale,” said Coyne. “In addition to Tuff Shed, the building is occupied by Mr. Beams®, whose parent company is Wireless Environment.”
Wireless Environment was acquired by doorbell startup Ring at the beginning of 2018. Ring became a subsidiary of Amazon shortly thereafter.
Built in 1974, 600 Beta Drive has had several improvements over the last few years, including the installation of LED lighting, a landscaping overhaul and a new roof. The building also features ESFR sprinklers, plentiful parking and an excellent location with highway visibility and easy access to I-271.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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