Ohio Aluminum – Bedford, OH

Ohio Aluminum
560 Solon Rd, Bedford, OH 44146, USA

We are pleased to exclusively offer for sale a 41,250 SF manufacturing facility in Cleveland, currently operated by Ohio Aluminum Industries. Ohio Aluminum is seeking to execute a 15-year sale-leaseback at the close of escrow to raise funds to help fuel its rapid growth. This is a rare opportunity to partner with a growing operator and acquire an industrial asset secured by a long-term Absolute Triple Net (NNN) Lease, featuring strong 2.5% annual rent increases.

  • Strong Guarantee From Growing Operator: Ohio Aluminum has seen rapid growth and increased revenues over the last 3 years due to an uptick in airplane sales and increased production lines from Boeing and Airbus. Proceeds from the sale will be used to help fuel the tenant’s rapid growth.
  • Mission Critical Facility: Ohio Aluminum recently expanded its manufacturing operations into this facility, making it critical for the tenant’s business. Due to this facility being located less than 10 miles away from Ohio Aluminum’s foundry facility and the presence of heavy equipment and machinery, it is unlikely the tenant will ever look to relocate.
  • Long-Term Absolute Triple Net (NNN) Lease Structure: Rare opportunity to acquire an industrial manufacturing asset secured by a long-term 15-year ABS NNN lease. Lease also offers annual 2.5% rent increases to help investors hedge against inflation.
  • Healthy Rent and Coverage: Rents are set at market rate for the area and fall within a healthy EBITDAR coverage range. This positioning makes it a safe and stable investment opportunity for potential investors.
  • Strategically Located: The property boasts strong highway access, strategically positioned for easy connectivity to Interstate 480 (I-480) and both Ohio State Routes 8 and 14. This prime location enhances its functionality for industrial users, ensuring efficient transportation and logistics capabilities.

 

In Cooperation With ParaSell, Inc. , A Licensed Ohio Broker – Lic. #REC.2020005946 BoR: Scott Reid – Lic. OH #BRKP.2020001224

Ohio Aluminum
560 Solon Rd, Bedford, OH 44146, USA

Ohio Aluminum

Ohio Aluminum Industries Inc is a privately held aluminum casting manufacturer serving aerospace, defense, automotive, and commercial equipment industries throughout the United States. Established in 1970, the company has developed a strong reputation as a specialized producer of highly complex aluminum sand castings and permanent mold castings. Its manufacturing capabilities include dry sand, green sand, and permanent mold processes, allowing the company to supply mission-critical components such as fuel pump housings, gear boxes, suspension parts, engine components, and military hardware. The company operates from the greater Cleveland industrial corridor near Bedford, Ohio, where it maintains a large foundry and storage operation supported by advanced heat treatment, welding, metallurgy lab, and non-destructive X-ray testing. Ohio Aluminum is AS9100 compliant and NADCAP certified, reflecting its ability to meet stringent aerospace and defense manufacturing standards. This high barrier-to-entry specialization has positioned the company as a long-term supplier for OEM and government-related applications requiring precision and durability.

Price

$3,300,000

Cap Rate

7.50%

PREMISES

41,250 SF

RENEWAL OPTIONS

2 x 10 Year Options

Lease Expiration

15 Years From Close of Escrow

Lease Type

Absolute NNN

RENTAL INCREASES

2.5% Annually

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