REBusinessOnline

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 …

Woda Cooper Completes Conversion of Historic Bank Building Into Mixed-Income Housing in Lima, Ohio

LIMA, OHIO — Woda Cooper Cos. Inc. has completed the conversion of an historic 1926 bank building in downtown Lima into a 47-unit mixed-income housing community. A grand opening ceremony took place Tuesday, June 25. Formerly the First National Bank & Trust Building, the 12-story building is listed on the National Register of Historic Places. Known as 43 Town Square, the property offers a mix of affordable and market-rate apartments. The building sat vacant for many years and was in …

ICP Acquires Two Industrial Properties Totaling 470,000 SF in Michigan, Ohio

HOLLAND, MICH. AND BRYAN, OHIO — Industrial Commercial Properties LLC (ICP) has acquired two industrial properties totaling 470,000 square feet in Holland, Mich. and Bryan, Ohio. ICP purchased the buildings from Adient, an automotive seat manufacturer. Both properties are fully leased to Yanfeng Automotive Interiors, a global supplier of interior equipment for the automotive industry headquartered in Shanghai, China. The Holland facility is 148,000 square feet while the Bryan facility is …

NorthMarq Arranges $5M Refinancing for Multifamily Property in Cincinnati

CINCINNATI — NorthMarq has arranged a $5 million loan for the refinancing of Lytle Tower, a 115-unit multifamily property in Cincinnati. The 12-story building, located at 405 Broadway St., features studios, one-bedroom units and one-bedroom penthouses. Amenities include a resident lounge, fitness center, on-site restaurant and in-unit laundry. Noah Juran of NorthMarq arranged the 20-year loan, which features a 30-year amortization schedule. A life insurance company provided the

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