Cleveland – September 07, 2026 -- Industrial Realty Group (IRG), PREP Funds and CG Real Estate Capital have closed a sale-leaseback transaction with Anchor Manufacturing, acquiring a three-property industrial portfolio totaling 339,449 square feet on 18.44 acres in Cleveland, Ohio.
Anchor Manufacturing signs long-term master lease to remain at all three sites
Under the deal, Anchor Manufacturing has entered a long-term master lease and will continue operating its headquarters and manufacturing facilities across each property, preserving its full operational footprint in Cleveland while monetizing the underlying real estate.
Portfolio spans three Cleveland facilities totaling nearly 340,000 square feet
The acquired assets include Anchor Metal Processing at 12200 Brookpark Road (153,814 square feet on 8.17 acres), which serves as headquarters and stamping operations; Anchor Tool & Die at 11840 Brookpark Road (159,459 square feet on 8.27 acres) for stamping and fabrication; and Anchor Die Technologies at 4541 Industrial Parkway (26,176 square feet on 2.0 acres) for metal processing.
Family-owned manufacturer founded in 1970 supplies global customer base
Anchor Manufacturing, a privately held company founded in Cleveland in 1970, has grown from a regional tool and die shop into a global supplier of metal safety assemblies, precision metal stampings, tooling and other consumer products. The company serves customers across North America, Europe and Asia from its Cleveland-area manufacturing operations.
IRG executive cites capital redeployment as driver behind the deal
"IRG has long supported companies looking to monetize their real estate assets and redeploy capital in their core business," said Peter Goffstein, Executive Vice President of IRG. Chris Salata, Partner at PREP Funds, said the transaction unlocks capital for future growth while allowing Anchor Manufacturing to remain in facilities integral to its five-decade history.
The partners characterized the acquisition as consistent with a broader strategy of targeting mission-critical industrial facilities amid sustained demand in the industrial sale-leaseback market.