Former Heidtman Steel Plant in Cleveland Acquired by Two Industrial Owners

The 33-acre site and 266,837-square-foot building were purchased by 4600 Premier Holding LLC and 4600 Heidtman Parkway Holding LLC.

Published on Feb. 12, 2026

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The former Heidtman Steel plant in Cleveland's industrial valley, which was shut down by Worthington Industries last year, has been acquired by two new owners who will split the property 50/50. One of the new owners, 4600 Heidtman Parkway Holding LLC, is an affiliate of Reserve Management Group and will provide ferrous and nonferrous metals recycling services at the site. The other owner's identity is unclear, but they appear to be a development firm rather than a direct manufacturer or industrial operator.

Why it matters

The sale of the former Heidtman Steel plant represents an opportunity to revitalize an industrial site in Cleveland's valley that had been shuttered. The new owners' plans to utilize the property for metals recycling and potentially other industrial uses could help bring jobs and economic activity back to the area.

The details

Cushman & Wakefield-CRESCO Real Estate brokered the sale of the 33-acre site and 266,837-square-foot heavy industrial building, which was listed for $15 million. The property was acquired by 4600 Premier Holding LLC and 4600 Heidtman Parkway Holding LLC, each taking a 50% stake. 4600 Heidtman Parkway Holding is an affiliate of Reserve Management Group, which will use the site for ferrous and nonferrous metals recycling. The other owner's identity is unclear, but they appear to be a development firm rather than a direct industrial operator.

  • The former Heidtman Steel plant was shut down by Worthington Industries in 2025.
  • The property was listed for sale at $15 million in 2026.
  • The sale of the property to the two new owners was recorded on February 3, 2026.

The players

Worthington Industries Inc.

The company that previously owned and operated the Heidtman Steel plant, before shutting it down in 2025.

4600 Premier Holding LLC

One of the two companies that acquired a 50% stake in the former Heidtman Steel property.

4600 Heidtman Parkway Holding LLC

An affiliate of Reserve Management Group, which acquired a 50% stake in the former Heidtman Steel property and will use the site for ferrous and nonferrous metals recycling.

Reserve Management Group

The parent company of 4600 Heidtman Parkway Holding LLC, which will be providing metals recycling services at the former Heidtman Steel site.

Cushman & Wakefield-CRESCO Real Estate

The real estate brokerage firm that handled the sale of the former Heidtman Steel property.

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What they’re saying

“We are unfortunately unable to comment on the sale price other than it transferred over our asking price or buyer group.”

— Cole Sorenson, Senior Associate (Cushman & Wakefield-CRESCO Real Estate)

What’s next

The new owners are expected to begin operations at the former Heidtman Steel site in the coming months, with one company utilizing a portion of the property for its own use and the other reportedly having an undisclosed tenant lined up for the remainder of the building.

The takeaway

The sale of the former Heidtman Steel plant represents an opportunity to revitalize an industrial site in Cleveland's valley that had been shuttered. The new owners' plans to utilize the property for metals recycling and potentially other industrial uses could help bring jobs and economic activity back to the area, signaling a positive development for the local economy.