20-YEAR LEASE SELLS FOR $2.33 MILLION IN OHIO

AVON, OHIO — The Luttner Retail Group has completed the sale of a 20-year lease with KinderCare in Avon. A Pennsylvania-based investor acquired the property for $2.33 million, representing an 8.65 percent cap rate, to complete a 1031 exchange. Mark Luttner of The Luttner Retail Group represented the seller, a private developer, in the transaction.