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Monmouth Pays $19.5 Million for Mickey Thompson Performances' Brand New Facility in Stow

New 219,765-SF Complex Net Leased for 10 Years
October 2, 2017
A brand new industrial complex fully leased to Mickey Thompson Performance Tires and Wheels has traded hands in Stow, OH for $19.5 million, or approximately $89 per square foot.

Monmouth Real Estate Investment Corp.(NYSE: MNR), a public equity REIT headquartered in Freehold, NJ, acquired the 219,75-square-foot facility located at 4651 Prosper Rd. within the Stow Commerce Center in south Cleveland.

Completed in August, the facility is net-leased for 10 years to Mickey Thompson Performance Tire and Wheels, which is guaranteed by Cooper Tire and Rubber Co., a Delaware corporation and the fifth largest tire manufacturer in North America. The complex is situated on approximately 15.4 acres and can be expanded by 50,000 square feet.

Please see CoStar COMPS #4017649 for more information on this transaction.
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