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Friday, May 18, 2012 Office
CB Richard Ellis has been hired to market the properties that are located in Cleveland, Beachwood and Toledo. The three buildings have a combined square footage of 592,000 and a 7.2 percent capitalization rate. They are leased through 2020 to Medical Mutual of Ohio, the state's largest health insurer. The Cleveland property is the 10-story Rose Building at 2060 E. 9th St. It serves as Medical Mutual's headquarters and carries a $69.5 million price tag. The 160,000 square foot Toledo property is located at 3737 W. Sylvania Ave. and was built in 1969. It's being offered for $28.2 million. The 51,000 square foot Beachwood property is located at 23700 Commerce Rd. and was built in 1979. It's being offered for $9.6 million. BentleyForbes, one of the nation's largest privately held commercial real estate investment companies, purchased the buildings in 2000 for $75 million. Address: 2060 East 9th St., Cleveland, Ohio 3737 W. Sylvania Ave., Toledo, Ohio 23700 Commerce Rd., Beachwood, Ohio Size: 592,000 square feet Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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