Diamond Properties Acquires 461,038-Square-Foot Industrial Property in Ravenna, Ohio

Large-scale, highly occupied warehouse expands Diamond Properties’ industrial portfolio in Northeast Ohio

RAVENNA, Ohio--(BUSINESS WIRE)--Diamond Properties announced the acquisition of 150 Loomis Parkway, a 461,038-square-foot multi-tenant industrial property located in Ravenna, Ohio, within the Akron industrial market.

Situated on approximately 37.5 acres, the property is 97.6% occupied and includes a significant tenant presence. Boston Group occupies approximately 308,000 square feet of the facility.

“150 Loomis Parkway is a strong addition to our industrial portfolio and reflects the type of opportunity we continue to pursue,” said Jim Diamond, CEO of Diamond Properties. “The combination of significant scale, strong occupancy and a location within Northeast Ohio’s established industrial market provides a solid foundation for long-term ownership.”

Originally constructed in 1971, the masonry warehouse features 21-foot clear heights, 76 loading docks, three drive-in doors and approximately 100 surface parking spaces. Its large footprint and multi-tenant configuration support a range of warehouse, distribution and manufacturing uses.

The property is located near State Route 14 and is surrounded by established industrial, manufacturing and distribution operations. Its access to the regional highway network provides connectivity throughout Northeast Ohio and to the broader Cleveland-Akron-Canton market.

The acquisition further strengthens Diamond Properties’ industrial holdings while adding a substantial asset in an established Northeast Ohio logistics and manufacturing corridor. The property’s existing occupancy and functional industrial configuration align with Diamond Properties’ strategy of acquiring commercial real estate with opportunities for sustained performance and long-term value creation.

About Diamond Properties

Diamond Properties is a commercial real estate business located in Mount Kisco, NY that focuses on the acquisition of commercial properties with potential for substantial improvement through hands-on property management, market repositioning and capital upgrades. Founded in 1995, Diamond Properties has acquired more than 125 properties and currently owns 111+ properties totaling approximately 18 million square feet across 13 states. Its portfolio includes office, medical, industrial, retail, self-storage, residential, lodging and land. Diamond Properties continues to pursue a capital improvement and leasing program that, when combined with quality-driven customer service, has enabled the company to deliver consistently high tenant satisfaction and lease renewal rates.

For more information, visit www.dpmgt.com.