REO: Cleveland Clinic-Anchored Medical Office

Highlights:

• ±33,208 SF medical office park surrounded by and serving affluent residential neighborhoods
• Tremendous value-add opportunity | Occupancy 65%
• WALT of 3.66 years with the largest tenant, Dr. Paul Vanek Jr, through November 2030.
• Located across from TriPoint Medical Center and surrounding healthcare businesses that employ ±3,000 people
• Average household incomes above $145,000 in a two-mile radius
• Excellent parking ratio of ±4.52 per 1,000 SF (Approximately 150 surface parking spaces)
• Conveniently located within one mile of the I-90/Ohio Highway 44 interchange, providing access to I-480, I-271, and the entire regional expressway system.

Description:

RI Marketplace Online Auction May 5-7, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2440/reo-cleveland-clinic-anchored-medical-office?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=office_2440

Friedman Real Estate Management OH LLC has been retained as exclusive advisor by the Lender/Servicer for the 100 percent fee simple interest sale of Gristmill Village Medical Office, a 3-building, 33K SF medical office park located in Painesville, Ohio.
The opportunity presented gives potential investors the ability to acquire a three-building, multi-tenant medical office park in the Cleveland suburb of Painesville, Ohio.

Thomas Seaman
Auctioneer
License: 2007000016

Documents: