CORFAC News

Beachwood, Ohio (Dec. 6, 2010) – Weber Wood Medinger/CORFAC International, a leading full-service commercial real estate provider serving corporate clients on a national basis, today announced the completion of a headquarter and warehouse/distribution lease on behalf of Cleveland Steel Container Corporation and North Pak Container at 30310 Emerald Valley Parkway in Glenwillow, Ohio.  The Emerald Valley Parkway building will be the new location for the corporate headquarters of both Cleveland Steel Container Corporation and North Pak Container. It will also serve as the new distribution center for North Pak Container. Both companies will share space as the major tenants in the 182,000-square-foot building which was developed by Premier Development Partners. Cleveland Steel Container Corporation and North Pak Container signed an 11-year lease for nearly 100,000 square feet of space and will commence operations in the premises December 6, 2010.Weber Wood Medinger most recently represented Cleveland Steel Container Corporation as their owner representative for a 70,000-square-foot build-to-suit project in Kilgore Texas in 2008.Gerald B. Medinger, SIOR and James E. Klements, SIOR of Weber Wood Medinger/CORFAC International represented Cleveland Steel Container Corporation and North Pak Container in the lease negotiations. “Working on this lease was similar to attending a 10-year class reunion” said James E. Klements. The same three parties negotiated a 10-year lease back in 2000. Weber Wood Medinger represented Cleveland Steel Container Corporation and North Pak Container in leasing its now former facility located at 1840 Enterprise Parkway in Twinsburg, Ohio and their new landlord, Spencer Pisczak, represented Duke Realty in 2000, the then building owner of Cleveland Steel’s previous location.Dennis Puening of Cleveland Steel Container Corporation said: “The continued growth of our business drove the need to relocate to a new facility that could accommodate our expansion. Jim and Jerry researched all the options in our market from existing buildings to build-to-suit projects. We decided on Spencer’s building in part based on our past relationship, but more importantly his building had the features we need at a competitive price.”The 182,000 square foot building is now 90 percent leased. The property is located in Glenwillow, one of the major distribution hubs in the Cleveland area.About Weber Wood MedingerSince 1968, Weber Wood Medinger (WWM) has provided an extensive range of real estate services to corporations and investors locally, nationally and internationally by working with a ‘best-in-class’ business model and partnering with the most qualified real estate professionals in multiple markets to represent its clientele. The company has represented more than 30 Cleveland-area companies in selecting headquarters facilities for their respective businesses and in a variety of methods, including lease, acquisition, build-to-suit development and ground-up construction. The firm’s principals have expertise in corporate consulting, strategic planning, tenant representation specializing in office, R&D and industrial properties, marketing, public accounting, transaction analysis and landlord representation. For more information visit www.wwmrealestate.com or call 216.464.7100.About CORFAC InternationalCORFAC International is one of the largest commercial real estate services organizations in the world and celebrates its 21st year in 2010. U.S.-based CORFAC is comprised of privately held entrepreneurial firms serving more than 150 markets in The Americas and internationally through alliances with UK-based King Sturge, BDIin Mexico,Rios Commercialin Puerto Rico and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million square feet and valued each year in excess of $30 billion.  For more information on CORFAC contact 954-923-6160, info@corfac.com or visit www.corfac.com.