Office Building Bought for $1.9 Million at Sheriff's Sale
Tech firm used to occupy space in Strongsville industrial park
A large building on Foltz Parkway that used to house a software firm has been sold at sheriff's auction to an real estate company that hopes to turn it around quickly.
Garrison Group of New York purchased the 48,000-square-foot building at 17999 Foltz Parkway, plus 7 acres of land, for $1,933,334 on Monday.
Economic Development Director Brent Painter said the company is already in talks with a firm that is interested in buying the property.
"They (Garrison) are going to be a lot more aggressive about selling it," Painter said. "There's one company that's interested in it now."
The building has been vacant since former owner CSC Group filed bankruptcy and was acquired by Hyland Software, which moved the staff to its Westlake offices in April 2011.
Painter said the building was foreclosed by Citizens Bank, which then sold it to Garrison. Garrison's purchase of the property Monday — at the minimum bid price — wipes away all outstanding liens and clears the title.
"It's a beautiful corporate office building," Painter said. "By the end of the year, I hope we have some information about a new buyer -- and new jobs for the city."