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Ohio

KeyBank Provides $8.3M Acquisition Financing for Affordable Housing Property in Cincinnati

CINCINNATI — KeyBank Community Development Lending & Investment has provided $8.3 million in acquisition financing for Morgan Apartments in Cincinnati. The 48-unit affordable housing property features six vacant buildings. All units are reserved for families earning between 30 and 60 percent of the area median income. Kelly Frank of KeyBank originated the financing on behalf of the borrowers, The Model Group Inc. and Over-the-Rhine Community Housing Inc (OTRH). The Morgan Apartments will..

November 21, 2017

Anchor Cleveland Arranges Sale of 16,000 SF Retail Property in Copley Township, Ohio

COPLEY TOWNSHIP, OHIO — Anchor Cleveland has arranged the sale of 16,000-square-foot property formerly occupied by Gordon Food Service in Copley Township, 10 miles west of Akron. The sales price was not disclosed. The property is situated on two acres at 120 Rothrock Road. Christopher McFarland of Anchor Cleveland represented the seller, Gordon Food Service. Stephen Taylor of CBRE procured the buyer, Marathon Fitness Ohio Properties LLC.

November 20, 2017

Reichle Klein Group Negotiates $1M Sale of Industrial Flex Building in Toledo, Ohio

TOLEDO, OHIO — Reichle Klein Group has negotiated the sale of a 26,560-square-foot industrial flex building in Toledo for $1 million. The property sits on 2.7 acres at 7319 W. Central Ave. The building was formerly home to Star Door & Sash Co. Robert Hawkins of Reichle Klein Group represented the seller, 7319 West Central LLC. Jason Westendorf of Reichle Klein Group represented the undisclosed buyer.

November 14, 2017

PCCP, Pizzuti Cos. to Develop 802,390 SF Industrial Building in Columbus, Ohio

COLUMBUS, OHIO — PCCP and The Pizzuti Cos. have formed a joint venture to develop Rickenbacker West I in Columbus. The 802,390-square-foot speculative industrial building will feature 36-foot clear heights. Project construction has begun and completion is slated for summer 2018. The property will be situated on 50 acres within the Creekside Industrial Center in the Rickenbacker Global Logistics Park. The Rickenbacker International Airport is located just south of the property.

November 10, 2017

Nationwide Realty Investors Unveils Plans for 32,000 SF Mixed-Use Building in Columbus, Ohio

COLUMBUS, OHIO — Nationwide Realty Investors has unveiled plans for a new 32,000-square-foot mixed-use building at Grandview Yard in Columbus. Located at 1125 Yard St., the building will feature ground-level retail space and medical office space on the second floor. Columbus Obstetricians-Gynecologists Inc. will occupy 10,000 square feet on the second floor. The new Grandview Yard location will replace the company’s Mount Carmel West location when it opens in late 2018. The groundbreaking..

November 8, 2017

KeyBank Arranges $20.7M Refinancing for Apartment Property in Gahanna, Ohio

GAHANNA, OHIO — KeyBank Real Estate Capital has arranged a $20.7 million Fannie Mae loan for the refinancing of Parc Apartments in Gahanna, about nine miles northeast of Columbus. The 180-unit property is comprised of six, three-story buildings situated on 7.8 acres of land. Tim Weldon of Key arranged the 12-year loan, which features a 30-year amortization schedule.

November 3, 2017

Cooper Commercial Brokers $1.8M Sale of Property Net Leased to Starbucks in Milford, Ohio

MILFORD, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property net leased to Starbucks in Milford, about 15 miles northeast of Cincinnati, for $1.8 million. The 2,107-square-foot retail property was newly constructed this year and features 10 years of initial lease term. Dan Cooper represented the undisclosed seller. A California-based buyer purchased the property.

October 30, 2017

EFL Expo Freight Inks 70,955 SF Industrial Lease in Columbus, Ohio

COLUMBUS, OHIO — EFL Expo Freight has signed a 70,955-square-foot industrial lease at Creekside Industrial Center in Columbus. The company will occupy the space in the 155,866-square-foot CreekSide XVI building, one of two speculative facilities nearing completion at the center. The building features 32-foot clear heights. Mike Spencer of Lee & Associates represented EFL Expo Freight in the lease transaction. Phil Rasey of The Pizzuti Cos. represented ownership, a partnership between..

October 27, 2017

Strategic Location, Strong Labor Force Boost Columbus Industrial Market

The Columbus industrial market continues to thrive as a hot center for logistics, warehousing and manufacturing. Its strategic location within a one-day truck drive of 50 percent of the U.S. population and one-third of the Canadian population is an important part of this success. Other contributing factors to this success include a strong Midwestern work ethic, low cost of real estate, low taxes, low wages and minimal union activity. With a total population of about 2 million in metro..

October 26, 2017

Downtown Columbus Office Market Devises Solutions to Parking Shortage

In today’s world, nearly every company is a technology company. That trend is changing the way we do business and interact with one another. Ted Anglyn, president of the Parking Property Advisors, summarizes how these changes are impacting space utilization, which in turn affects parking needs: The space per square foot per employee in newly leased office space decreased from a range of 300 to 350 square feet per person in 2005 to 150 to 200 square feet in 2010. [caption..

October 19, 2017