LOWE’S GROUND LEASE IN CINCINNATI SELLS FOR $14.3M

by admin

CINCINNATI — Marcus & Millichap has arranged the $14.3 million sale of a 138,445-square-foot Lowe’s Home Improvement store ground lease in Cincinnati. The sale price equates to $103 per square foot. Craig Fuller, senior associate, and Scott Wiles, vice president of investments in Marcus & Millichap’s Cleveland office and Erin Patton, a vice president of investments in the firm’s Columbus office, represented the seller, a New York-based investment fund. Fuller, Wiles and Patton also represented the buyer, a national real estate investment trust. The home improvement store is located at 5385 Ridge Ave. and has 8.5 years remaining on the ground lease.

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