103,000 Sq. Ft. Property will House Great Lakes Honda West and Alexis Exhibits
CHICAGO , Oct. 27, 2023 /PRNewswire-PRWeb/ -- Murphy Real Estate Services ("Murphy RES"), a private real estate investment firm specializing in the acquisition, development, and operation of commercial properties across the United States, has successfully acquired a 103,000 square foot industrial building located at 823-825 Leona Street in Elyria, Ohio. This property, which sits on a 10.49-acre site, will serve as a base for Great Lakes Honda West, one of Ohio's most successful Honda dealerships, and Alexis Exhibits, a prominent custom trade show display and exhibit company.
This acquisition aligns with Murphy's core strategy of accumulating highly functional assets in areas with robust demographic trends. The property's location in Elyria, Ohio, provides immediate access to Interstate 90 and the Ohio Turnpike, boasting over 100,000 daily traffic counts.
"This investment offers stable cash flow provided by the long-term tenants and we are excited about this addition to our portfolio. We look forward to expanding our presence in the industrial sector and pursuing new investment opportunities," said John T. Murphy, Chairman and Chief Executive Officer of Murphy RES.
About Murphy Real Estate Services
Murphy Real Estate Services, LLC ("Murphy RES"), a Chicago-based private real estate investment firm, focuses on generating opportunities in the multifamily, industrial, hospitality, and office sectors throughout the United States To date, the firm has successfully developed and repositioned commercial properties valued at over $1.5 billion and encompassing more than 4 million square feet.
Through sound investment strategies and extensive due diligence, the dynamic team at Murphy RES identifies, evaluates, and executes projects by combining sound financial modeling, economic analysis, and entrepreneurial creativity. Murphy RES co-invests with private and institutional capital to achieve outstanding, risk-adjusted returns.
For more information on Murphy Real Estate Services, please visit murphyres.com.
Media Contact
Kathy Bryja, Heron Agency, 1 773-969-5200, [email protected], www.heronagency.com/
SOURCE Murphy Real Estate Services
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