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Colliers Sells Iconic Nela Park in Cleveland, Ohio

CLEVELAND, Oh., May 04, 2022 – Colliers | Cleveland and Colliers | Virginia are pleased to announce the sale of Nela Park, the world’s first industrial park. An affiliate of Phoenix Investors (“Phoenix”) purchased the property from 1975 Noble Road, LLC, an affiliate of Savant Systems, Inc. The team of Mark Abood in Cleveland and Rob Stockhausen and Grant Bates, of Colliers | Charlottesville, led the marketing of the iconic property, representing both the seller and purchaser in the transaction.  

 

“Phoenix has just captured one of Northern Ohio’s top five most architecturally significant treasures. I cannot wait to see what they have in store for the park. I know it will be something special!” said Mark Abood, senior vice president and principal of Colliers | Cleveland.

 

Nela – National Electric Lamp Association, housed GE Lighting’s headquarters since the early 1920’s and will continue to do so. It is comprised of 26 buildings with over 1,000,000 square feet of space across 92 acres. The campus features fountains, landscaping sculptures, and an annual light-show that brings the Cleveland community together during the holidays.

 

“Nela Park’s history and significance in Northern Ohio spans over 100 years. Including a promising list of tenants and users that will compliment Savant’s existing presence at the campus, Phoenix is no stranger to attracting vibrant new companies to its properties; and Nela will be no exception,” stated Managing Director of Colliers | Cleveland, Brian Hurtuk. “Phoenix’s entry into northern Ohio ushers in a new era of development at the site!”

 

Media Contact:

Jullieanne Cueto

Communications Specialist | Virginia and Raleigh, NC

Jullieanne.cueto@colliers.com

804-968-1970


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Robert Stockhausen

Managing Director

Charlottesville

With extensive experience in the commercial real estate industry, Rob Stockhausen is among the most knowledgeable brokers in the Central Virginia marketplace. His market expertise and approachable personality continually attracts top clients, expanding his networking base.

Rob specializes in the sale and leasing of industrial/investment properties, as well as commercial land sales in the Central/Western and Southern Virginia marketplace.

As managing director of the Charlottesville office for more than twelve years, he has developed a team of bright professionals and leads them to success each year. Under his leadership, the firm dominates the local commercial real estate market.

Prior to becoming managing director and supervising broker of the Charlottesville office in July of 2006, he worked for Real Estate III Commercial Properties, Inc. At that time, he spearheaded the development of Zion Crossroads Industrial Park. Rob’s career began in 1991 at Bullock, Terrell and Manelley (BTM) in Atlanta, Georgia, where he handled commercial leasing from both a tenant and landlord perspective. He has worked within commercial brokerage and/or private investments ever since.

 

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Grant Bates

First Vice President

Charlottesville

I  joined the Charlottesville office in 2018 as a Vice President. I was born in Central Virginia and raised in Albemarle County. Being raised in Central Virginia gives me an extensive knowledge of the real estate market here and allows me to find the perfect location for my clients.

My diverse assignments include manufacturing facilities, mixed office and industrial flex properties, build-to-suit projects, and the full range of warehouse and distribution requirements. I have also represented clients with out-of-market distribution / logistics ventures and have a solid understanding of multi-faceted elements required. I approach each assignment with diligence and a bottom-line mindset – determined to optimize the value of clients’ real estate transactions.

My territory  stretches along the Interstate 81 corridor, covering Central Virginia , The Shenandoah Valley and Southwest Virginia. My large territory allows me to have a regional understanding of the current state of the industrial real estate market.

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