The Commerce Park 4 and 5 buildings popped up this week on the Ten-X auction website, where they will be offered for sale in late April. A lender took control of the properties in early 2021 to resolve a foreclosure fight.
Beachwood office buildings fall under lender s control
Beachwood office buildings fall under lender s control
Stan Bullard
Colliers vice president Cyndie O’Bryon will run the leasing efforts for the Commerce Park 4 and 5 office buildings in Beachwood. The edge of the Commerce Park 4 building is at left and Commerce Park 5 is at right.
Fix holes in parking lot. Do massive landscape updating.
Those highly visible items top the list for upgrades at the Commerce Park 4 and 5 office buildings in Beachwood after the 1980s-era structures just became lender-owned.
That is the word from Cyndie O Bryon, a first vice president at the Colliers Cleveland office as she starts running the leasing effort and the firm begins managing the properties for an affiliate of Rialto Capital Management. Through an affiliate, the Miami-based real estate investment and asset management firm, which serves as a special servicer handling distressed properties for lenders, gained control of the buildings on