NorthMarq Arranges $8.1M Acquisition Loan for Multifamily Portfolio in Metro Cincinnati

CINCINNATI — NorthMarq has arranged an $8.1 million loan for the acquisition of an 11-property multifamily portfolio located in metro Cincinnati. The properties range in size from eight to 58 units with a total unit count of 337. Noah Juran of NorthMarq arranged the loan with a local bank on behalf of the undisclosed borrower. The 10-year, fixed-rate loan has a 30-year amortization

Modern Builders Supply Signs 125,000 SF Industrial Lease in Toledo, Ohio

TOLEDO, OHIO — Modern Builders Supply Inc. has signed a 125,000-square-foot industrial lease at 4100 Bennett Road in Toledo. The locally based company, which was founded in 1944 and distributes name-brand roofing, siding, windows and doors, has more than doubled its warehouse space with this new lease. Lynette Reichle of Reichle Klein Group represented the tenant in the lease transaction. Ronald Jurgenson of Reichle Klein represented the landlord, I.B.C.

Amazon to Open Two 700,000 SF Fulfillment Centers in Ohio

AKRON AND ROSSFORD, OHIO — Amazon (NASDAQ: AMZN) will open two fulfillment centers in Ohio in a move that will bring more than 2,500 new jobs to the northern part of the state. The properties, each of which will span more than 700,000 square feet, will be located in Akron and Rossford, the latter being a suburb of Toledo. The developments will be the e-commerce giant’s seventh and eighth industrial assets in Ohio, and will be used to sort, pack and ship various items to customers in the …

Marcus & Millichap Arranges $2M Sale of Property Net Leased to Rite Aid in Marion, Ohio

MARION, OHIO — Marcus & Millichap has arranged the $2 million sale of a 10,617-square-foot property net leased to Rite Aid in Marion, approximately 50 miles north of Columbus. The building is located at 1081 Mount Vernon Ave. Rite Aid has operated at the location for more than 21 years. Dan Yozwiak, Joe Sparano and Nathan Coe of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not

FC Cincinnati Kicks Off Construction of $250M Soccer Stadium

CINCINNATI — FC Cincinnati (FCC), a Major League Soccer team, is headed for a new home. The team recently started construction of a $250 million stadium in the city’s West End, unveiling the full design plans for the first time this week. General contractor Turner Construction broke ground on the project in December and expects to complete the stadium in March 2021. Architecture firm Populous designed West End Stadium — the team said the name may change as potential corporate …

Various Submarkets Attract Cincinnati Office Tenants

Over the past decade, Cincinnati has successfully positioned itself as a formidable Midwestern city, hungry for growth and innovation. Whether you’re a startup or a Fortune 500 company, the city (and its surrounding suburbs) can provide an attractive backdrop. The Cincinnati office market largely reflects this momentum. Demand in some areas has slowed, but the office market remains steady. In fact, the office market has experienced a flurry of activity in 2019 and is awash in new lease …

Six New Retailers Confirmed for $500M Easton Town Center Expansion

COLUMBUS, OHIO — Six new retailers have been confirmed as part of the $500 million expansion of Easton Town Center in Columbus. The retailers include Ivan Kane’s Forty Deuce Café & Speakeasy, Arhaus Furniture, Pins Mechanical Co., The Beeline, Forbidden Root Restaurant and Brewery and Crimson Cup Coffee & Tea. At Forty Deuce, the ground floor will include a café serving burgers and desserts while the upstairs will incorporate a hidden speakeasy. The new Arhaus store will span …

Pizzuti to Begin Apartment Redevelopment Project in Columbus, Ohio

COLUMBUS, OHIO — The Pizzuti Cos. has purchased the former Grant Oak Apartments in Columbus and is scheduled to begin construction immediately on the redevelopment of the site. Located at the southeast corner of Grant Avenue and Oak Street in the Discovery District, the project will include a combination of renovation work, new construction and site improvements. Phase I will include a renovation of the four westernmost buildings and will result in 70 market-rate studio and one-bedroom units. …

Marcus & Millichap Arranges $3.7M Sale of Net-Leased Bank Property in Hilliard, Ohio

HILLIARD, OHIO — Marcus & Millichap has arranged the $3.7 million sale of a 5,525-square-foot property net leased to S&T Bank in Hilliard, a suburb of Columbus. The build-to-suit, completed this year, is located at 4599 Cemetery Road. Dan Yozwiak and John Reehil of Marcus & Millichap brokered the transaction. Both the buyer and seller were limited liability

Commonwealth Hotels Acquires 147-Room Courtyard Hotel in Dublin, Ohio

DUBLIN, OHIO — Commonwealth Hotels has acquired the Courtyard Columbus-Dublin for an undisclosed price. The 147-room hotel is located within five miles of the Muirfield Village Golf Club, a Jack Nicklaus-designed course that is home of the Memorial Tournament, a yearly PGA event. It is also situated 17 miles from downtown Columbus. The hotel includes three meeting rooms spanning more than 1,200 square feet. Guests have access to a fitness center, pool and free Wi-Fi. The seller was not …