August 25, 2023 – Matt Nadler and Jason Woods of Horvath & Tremblay have successfully completed the sale of Speed Selector in Chagrin Falls, Ohio. Horvath & Tremblay exclusively represented the buyer to complete this transaction at a sale price of $2,700,000.
Speed Selector is located at 17050 Munn Road in Chagrin Falls, Ohio. The Property was constructed in 1997 and is comprised of a 36,000 square foot building on a 3.0-acre parcel of land. Speed Selector signed a new 20-year Absolute NNN Lease upon the close of escrow. The lease has four (4), 5-year renewal options and features attractive 2% annual rent increases throughout the primary term and the renewal options. Speed Selector stands as one of the world’s largest producers of variable speed drives and power transmission components. The company markets to both OEM and consumer customers alike in various industries such as machine tool, HVAC, processing, packaging, woodworking, exercise, and agricultural equipment. Speed Selector is ideally situated along Munn Road, a major north south artery bisecting Chagrin Falls and is approximately 4.5-miles from US Highway 422, the area’s primary east west corridor connecting the area with Downtown Cleveland.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.