Premier Development Partners LLC Expands Cleveland Portfolio

Cleveland, OH – March, 2011 – Premier Development Partners LLC has purchased the following industrial properties in the Cleveland area:

1)       12117 Bennington Avenue, Cleveland, Ohio – A three building industrial complex totaling approximately 200,173 square feet situated on 12.3 acres. The property was purchased from Premier Manufacturing Company for $1,150,000.00. The transaction includes a year leaseback. Once the leaseback term ends the property is slated to be redeveloped and leased.

2)       2242-2272 Pinnacle Parkway, Twinsburg, Ohio – A two building multi-tenant complex totaling approximately 54,000 square feet situated on 5 acres from Orix Special Services for $1,150,000.00. The complex is approximately 70% occupied at this point and future leasing will be handled by CRESCO Real Estate.

Premier Development Partners LLC are experts at adding value by repositioning under utilized assets within an otherwise prosperous market segment.

 The Barna Caplan Team of CRESCO Real Estate represented the Seller in both investment transactions. According to Joseph V. Barna, SIOR, “This recent purchase clearly suggests that investment activity is increasing within the Greater Cleveland market.”