New owner pays $2.5 million for former torpedo plant

18901 Euclid Avenue, Cleveland, Ohio

A massive industrial building near Cleveland’s border with Euclid that started life 50 years ago as a torpedo plant ago has changed hands in a $2.5 million transaction.

The new owner, as of Feb. 14, is 18901 Euclid Avenue LLC, which takes its name from the structure’s street address.

The buyer directed that property tax bills be sent to 23600 Corbin Drive in Bedford, the address of Dynamic Metal Services, a 10-year-old specialty metals firm. The 242,000- square-foot building, which sits on a 28-acre site, has housed multiple industrial concerns over the years while it served as a multitenant property owned by an affiliate of Industrial Commercial Properties, a Solon-based real estate owner and developer. Read the full article here.