MAUMEE, OHIO — Reichle Klein Group has arranged the sale of a 36,000-square-foot office building in Maumee, about 10 miles southwest of Toledo, for $2.2 million. The property is situated on three acres at 1789 Indian Wood Circle within Arrowhead Business Park. John Sluhan of Reichle Klein Group represented the seller, Manhattan Building Co. Marty Gallagher, also of Reichle Klein Group, represented the buyer, Walbridge Investors LLC.
AURORA, OHIO — Peak Construction Corp. has been tasked with building a 409,495-square-foot industrial build-to-suit for an undisclosed distribution company in Aurora, about 30 miles southeast of Cleveland. The property, owned by Scannell Properties, will feature 32-foot clear heights, 30 dock doors, one drive-in door, 20 trailer spaces and parking for 75 cars. Peak has teamed up with Ware Malcomb Architects and Weber Engineering for the project.
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 offer early childhood education, before and after school care, credit counseling, financial literacy programs, education assistance, job training and placement assistance through OTRH. The Ohio Capital Corporation for Housing provided the low-income housing tax credits, federal historic tax credit and state historic tax credit equity for the project.
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.
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.
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.
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 is slated for January. Owned and developed by Nationwide Realty Investors, Grandview Yard will include 1.2 million square feet of commercial space, several restaurants, grocery and service retail, hospitality and more than 1,300 residential units upon completion.
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.
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.
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 Pizzuti and USAA Real Estate.
