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Mohr Capital Buys Rockwell Automation's 462,000-SF Office Bldg. in Mayfield Heights

Norman Properties Sells Single-Tenant Complex in $52 Million, Off-Market Deal
January 10, 2018
Mohr Capital, an office and industrial real estate investor based in Dallas, has acquired Rockwell Automation's 462,000-square-foot office complex in Mayfield Heights, OH from Norman Properties for $52 million, or approximately $113 per square foot, in an off-market deal.

The building at 1 Allen Bradley Dr. delivered in 1995 as a built-to-suit for Rockwell Automation (NYSE: ROK), a Milwaukee-based industrial automation and information products provider that fully occupies the property on a net lease that runs through November 2020. The complex serves as the company's second largest employment center.

Rodrigo Godoi, director of acquisitions with Mohr Capital, represented the new owner in negotiations.

"We continue to focus our efforts on acquiring high quality assets with high quality credit tenants nationwide and this transaction fits that criteria perfectly," noted Godoi.

For more information on the transaction, please see CoStar Comp #4101785.
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