Cleveland, OH/USA

Cleveland – December 3, 2009 – Colliers Ostendorf-Morris, one of Northeast Ohio’s leading commercial real estate and property management firms, has announced the sale of the former McStay Engineered Products headquarters for $400,000 to JGK Enterprises.

W. Farley Helms, Sr. Vice President, SIOR,CCIM and Brian Lenahan, Sr. Vice President, JD, SIOR, of Colliers Ostendorf-Morris represented the lender.

“This industrial property is a sign of our difficult economic times,” noted Mr. Helms. “It had been in foreclosure, and remained vacant and neglected for nearly three years. To sell to a buyer who plans to establish a fully-functional showroom and fabricating warehouse is exciting for the area.”

The14,465 SF facility was built in 1965 and includes 6,000 SF of office/ showroom space, and 8,465 of warehouse area. It is located at 7325 Fairoaks Rd. in Oakwood, OH, which is about 15 miles midway between Cleveland and Akron. The property is well-recognized for its high level of visibility and easy highway access.

McStay Engineered Products designed and manufactured flow control products out of the facility until 2005. JGK Enterprises manufactures cut & shaped granite and plans to use the property for sales, a showroom and a fabricating warehouse. The facility will open in the spring of 2010.

Fred J. Herrera, First Vice President, CB Richard Ellis represented JGK Enterprises.

About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 12,700 employees span the world in 294 offices in 61 countries. On a worldwide basis, Colliers manages 1.1 billion square feet, and has revenue of $US 1.6 billion.

Contact Information

Ellen G. Evans
Marketing Liaison
Colliers Ostendorf-Morris
1100 Superior Avenue, Suite 800
Cleveland, OH  44114
216.861.5792 Direct
216.861.7200 Main
216.861.4672 Fax

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