Industrial Realty Group, PREP Funds, and CG Real Estate Capital acquire Anchor Manufacturing's industrial portfolio in Cleveland
CLEVELAND, Sept. 1, 2026 /CourierPR/ -- Industrial Realty Group (IRG), PREP Funds, and CG Real Estate Capital have completed a significant transaction, acquiring a three-property industrial portfolio from Anchor Manufacturing in a sale-leaseback arrangement. The portfolio, encompassing 339,449 square feet across 18.44 acres in Cleveland, Ohio, includes three key properties: Anchor Metal Processing, Anchor Tool & Die, and Anchor Die Technologies.
Anchor Manufacturing, a privately held company founded in 1970, has grown from a regional tool and die business to a global supplier of metal safety assemblies and other consumer products. The company continues to operate its headquarters and manufacturing facilities at the acquired properties, ensuring a seamless transition.
Peter Goffstein, Executive Vice President of IRG, stated, "IRG has a long-standing commitment to supporting companies that seek to monetize their real estate assets and reinvest in their core business. Anchor Manufacturing exemplifies the type of company we are proud to work with, and this transaction underscores our shared goal of providing long-term, strategic real estate solutions."
Chris Salata, a Partner at PREP Funds, added, "Anchor Manufacturing is a market-leading manufacturer with a strong presence in Cleveland. This sale-leaseback transaction exemplifies the potential of such arrangements, offering a win-win scenario where businesses can unlock capital for future growth while maintaining their critical operational infrastructure."
The acquisition highlights the continued strength of the industrial sale-leaseback market and the partners' strategy of investing in mission-critical industrial facilities. The transaction is seen as a testament to the enduring importance of industrial real estate in the Cleveland area and beyond.
"We are excited to continue supporting Anchor Manufacturing's growth and global reach," said Goffstein. "This partnership aligns with our broader mission to create value through the adaptive reuse of industrial and commercial real estate."
The properties in question are: - Anchor Metal Processing, headquartered at 12200 Brookpark Road, Cleveland, Ohio, with 153,814 square feet on 8.17 acres. - Anchor Tool & Die, located at 11840 Brookpark Road, Cleveland, Ohio, with 159,459 square feet on 8.27 acres. - Anchor Die Technologies, situated at 4541 Industrial Parkway, Cleveland, Ohio, with 26,176 square feet on 2.0 acres.
This transaction not only strengthens the industrial real estate portfolio of IRG, PREP Funds, and CG Real Estate Capital but also reaffirms the commitment of these firms to supporting the growth and operational continuity of industrial businesses in Cleveland and beyond.