Mayfield Heights, OH

CBRE Secures 17,772SF Lease for AIPSO in Mayfield Heights, Ohio

10 Feb 2022

Landerbrook

Media Contact

CBRE has secured a lease for AIPSO at 5875 Landerbrook Dr. in Mayfield Heights, Ohio. The Rhode Island-based insurance services organization will open its first facility in the Cleveland market with a long-term 17,772-square-foot lease for at the Class A office building.

CBRE’s Andrew Coleman and Alex Johanson represented the landlord, ORG Portfolio Management, in the lease negotiations. AIPSO was represented by Savills Senior Vice President Darin Manning.

“Located in the highly sought-after East Submarket, this office transaction demonstrates that the Cleveland east suburbs have remained resilient despite COVID-19 and other market disruptors,” said CBRE’s Coleman. “The building’s common area renovations, coupled with the landlord's expertise in management and construction to deliver a turn-key solution were key factors in landing this long-term lease that brings the building to near full occupancy.”

"AIPSO is experiencing growth in its service provider operations group,” said Manning. “For its foray into the Cleveland market, AIPSO sought an office space that provides for an attractive bright environment for its employees. Its new location at the Landerbrook Office Park is 30 minutes from downtown Cleveland, offers convenient access to public transportation and is in a recently-renovated building with updated amenities.”

“After looking at several properties in the area, we were pleased to find this exceptional location which met all of our requirements,” said AIPSO CAIP Services Director Matt Mayfield. “We look forward to establishing our physical presence in the Cleveland market and appreciate the assistance provided by Savills.”

Completed in 1991, the three-story, 114,403-square-foot office building is located less than one mile from Interstate 271 in the niche Landerbrook submarket. ORG Portfolio Management is a global real assets consultant and investment manager, who owns and operates over 2 million square feet of commercial properties in northeast Ohio. Today, the property has just 5,500 square feet of unfurnished space that ownership intends to build out for spec office users.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.