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Area Development - Site Selection, Facility Planning and Workforce Development

Developers Partner To Offer 195,000 Square Foot Manufacturing-Warehousing Facility In Solon, Ohio

08/24/2015
Developers Chris Semarjian of Industrial Commercial Properties and Stuart Lichter of Industrial Realty Group partnered to invest in Northeastern Ohio with the purchase of a 195,000 sq. ft. building, situated on 42 wooded acres at 6800 Arnold Miller Parkway, in Solon, Ohio, that can house manufacturing and warehousing facilities.

The building was designed and built for Matrix Essentials in the early 1990's. The building's primary use was as the company's national distribution center. After L'Oreal acquired Matrix, they relocated the operation to Streetsboro, Ohio.

Semarjian and Lichter partner on national and regional projects and specialize in the acquisition, development and management of commercial and industrial real estate throughout the United States. Their unique business model allows this team to purchase underutilized corporate assets, readapt and repurpose the property for new business development.

"We are very excited about the potential of this building. There is really nothing like it in the market," said Chris Semarjian. "It is a flexible building that can be used for warehousing or manufacturing. We also have up 20 acres of surplus land that can be used for expansion or development."

Semarjian and Lichter own and operate over 70 properties totaling more than 40 million square feet in the region. Some of their notable projects include Goodyear, Lockheed Martin, Hoover, American Greetings, and Randall Park Mall.

"We are experiencing strong growth in the region," said Semarjian. "We are continuing to make advantageous acquisitions, while filling our vacancies faster than ever. We are also seeing rental rates climb in the more mature markets."

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