Weber Wood Medinger/CORFAC Represents Aleris International and Austin Powder in Lease Renewals and Extensions
Cleveland, OH (December 4, 2014) – Weber Wood Medinger/CORFAC International, a leading full-service commercial real estate provider that serves the Northeast Ohio, Western Pennsylvania and North America markets, today announced the completion of lease renewals and extensions on behalf of Aleris International and Austin Powder in the Eastside office market at Chagrin Blvd. and I-271 in the Cleveland suburb of Beachwood, OH.
Alan Wood, a principal with Weber Wood Medinger, represented both corporations in the lease arrangements.
Aleris International, an aluminum products and recycling company that is publicly traded, leased 57,000 square feet at 25825 Science Park Drive. Wood has assisted Aleris on several other transactions in the United States. The Aleris lease is for 120 months at approximately $20 a square foot. The building owner is a Texas-based real estate trust.
Wood also negotiated a lease extension for Austin Powder at 25800 Science Park Blvd. in Beachwood. Austin Powder remains in approximately 30,000 square feet and occupies the entire third floor of the building. Weber Wood Medinger is based in the same building, on the first floor. The lease was for 120 months at approximately $20 a foot and the property is owned by a Texas based real estate trust.
Austin Powder was the anchor tenant in the building when it opened in 1989 and the building was developed by Weber Wood Medinger (WWM) when the firm was still in the development business. WWM transitioned into pure advisory and brokerage services in the 1990s.
Wood has managed some 35 separate transactions for Austin Powder. Many of them have occurred in Tennessee in a land-assemblage project that he managed when Austin Powder, a mining, construction and seismic explorations manufacturing and services conglomerate, sought a new manufacturing facility. Founded in 1833, Austin Powder built its original business for more than a century as one of America’s preeminent suppliers of dynamite, yet through the years the company has evolved and operates numerous industrial businesses.
Weber Wood Medinger has completed over 500 lease and sale transactions for corporate clients like Aleris and Austin Powder throughout North America.
About Weber Wood Medinger
Since 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 Beachwood, OH-based 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, transaction analysis and landlord representation. For more information visit www.wwmrealestate.com or call 216.464.7100.