Ohio

Marcus & Millichap Arranges $1.3M Sale of Apartment Property in Bellevue, Ohio

by Kristin Harlow October 3, 2017

BELLEVUE, OHIO — Marcus & Millichap has arranged the sale of Shadow Hill in Bellevue, located in central northern Ohio, for $1.3 million. The 40-unit apartment property is located at 300 Derby Lane. The property, comprised of five buildings on 3.7 acres, features a mix of two- and three-bedroom units. The Barron, Burkons & Wintermute group of Marcus & Millichap marketed the property on behalf of the seller, an out-of-state limited liability company. The team also procured the buyer, a regional limited liability company.

October 3, 2017

Industrial Midwest Ohio

Opus to Build 250,050 SF Industrial Building in Columbus, Ohio

by Kristin Harlow September 28, 2017

COLUMBUS, OHIO — The Meritex Co. has selected The Opus Group to build a 250,050-square-foot industrial building in Columbus. The speculative building, which will feature 32-foot clear heights and truck ports, will accommodate up to four tenants. The project is slated for completion in May 2018. Opus Design Build LLC will serve as design-builder and Opus AE Group will serve as the architect and structural engineer. Rick Trott and Kevin McGrath of CBRE will market the property for lease on behalf of developer Meritex.

September 28, 2017

Midwest Office Ohio

Colliers Brokers $5.9M Sale of Office Property in Cincinnati

by Kristin Harlow September 26, 2017

CINCINNATI — Colliers International has brokered the sale of a 39,385-square-foot office property in Cincinnati for $5.9 million. Built in 2010 and expanded in 2017, the building is located at 9655 Reading Road. EMCOR Inc., a mechanical and electrical construction services company, fully occupies the property. Steve Timmel, Jeff Johnston, Chris Prosser and John Gartner of Colliers represented the undisclosed seller. A real estate investment trust purchased the property.

September 26, 2017

Midwest Multifamily Ohio

Colliers Brokers $32.5M Sale of Multifamily Property in Columbus, Ohio

by Kristin Harlow September 22, 2017

COLUMBUS, OHIO — Colliers International has brokered the sale of Sterling Place in Columbus for $32.5 million. The 300-unit multifamily property was built in 1991. Will Mathews and Russ Williamson of Colliers represented the seller, CORE Realty Holdings Management Inc. The Conor Group purchased the property.

September 22, 2017

Midwest Multifamily Ohio

Joint Venture Breaks Ground on Luxury Apartment Complex in Centerville, Ohio

by Kristin Harlow September 21, 2017

CENTERVILLE, OHIO — A joint venture between Mills Development and Hills Properties has broken ground on Allure Luxury Apartments, a seven-building apartment property in Centerville. The 312-unit community is located at 350 Arden Way adjacent to Cross Pointe Shopping Center. Amenities will include a two-story fitness center, executive conference room, cyber café, pool and bark park. Hills Properties will manage the property. First move-ins are slated for late 2018.

September 21, 2017

Industrial Midwest Ohio

Monmouth Acquires 298,472 SF Industrial Building in Kenton, Ohio for $18M

by Kristin Harlow September 20, 2017

KENTON, OHIO — Monmouth Real Estate Investment Corp. has acquired a new 298,472-square-foot industrial building in Kenton for $18 million. The property is located on 46 acres at 2465 Fontaine St., approximately 28 miles south of Findlay. The building is net leased to International Paper Co., a paper and packaging manufacturer, for 10 years. The building has full rail access and is adjacent to one of International Paper Co.’s manufacturing plants.

September 20, 2017

Hospitality Midwest Ohio

Home2 Suites by Hilton Opens in Dublin, Ohio

by Kristin Harlow September 18, 2017

DUBLIN, OHIO — Home2 Suites by Hilton Columbus Dublin has opened in suburban Columbus. The 126-room, extended-stay hotel is owned by Dublin-based Crawford Hoying and operated by Shaner Hotels. Located at 5000 Upper Metro Place, the property features an indoor pool and two outdoor patio areas. The hotel also features a laundry and fitness area and complimentary breakfast. The chain is aggressively expanding throughout the Midwest and the rest of the country.

September 18, 2017

Loans Midwest Multifamily Ohio

Hunt Provides $21M Refinancing for Two Multifamily Properties in Suburban Columbus, Ohio

by Kristin Harlow September 11, 2017

GAHANNA AND WESTERVILLE, OHIO — Hunt Mortgage Group has provided $21 million in refinancing for two multifamily properties in Columbus. The financing consists of a $19.5 million Fannie Mae loan and a $1.4 million mezzanine loan. The 10-year loans feature 30-year amortization schedules. The properties include The Reserve at Walnut Creek and The Ravines at Rocky Ridge. The Reserve is located at 5930 Sunbury Road in Gahanna, a northeast suburb of Columbus. Built in 2014, the property includes seven buildings and 148 units. Amenities include a clubhouse, movie theater, fitness center and pool. The Ravines is located at 5700 Rocky Ridge Landing Drive in Westerville, also a northeast suburb. Built in 2014, the property features 136 units. Amenities include a clubhouse, fitness center, recreation room and pool. Both properties are currently owned by single-asset entities.

September 11, 2017

Midwest Office Ohio

Azelis Signs 13,000 SF Office Lease in Cincinnati

by Kristin Harlow September 8, 2017

CINCINNATI — Azelis, a specialty chemicals distributor, has signed a 13,000-square-foot office lease at Pictoria Tower in Cincinnati. The 253,000-square-foot, Class A building is located at 225 Pictoria Drive. Other tenants include First Financial Bancorp, Northrup Grumman Corp., Ameriprise Financial, Yusen Logistics and Ultimus Fund Solutions. Pictoria Tower features a seven-story parking deck, two-story lobby and multimedia conference center that can accommodate 100 people. Roddy MacEachen of SqFt Commercial represented Azelis in the lease transaction. Rusty Meyers of JLL represented the landlord, Fairbridge Properties.

September 8, 2017

Industrial Midwest Ohio

CBRE Brokers Sale of 465,256 SF Freezer Warehouse in Columbus, Ohio

by Kristin Harlow September 7, 2017

COLUMBUS, OHIO — CBRE has brokered the sale of Mars Petcare warehouse and distribution facility in Columbus. The sales price was not disclosed. The 465,256-square-foot freezer warehouse is located at 5303 Fisher Road. Mars Petcare US, a subsidiary of Mars Inc., occupies the property with a long-term lease. The property is located immediately adjacent to Mars Petcare’s largest pet food production plant. The property underwent extensive renovations this year to install freezer-cooler equipment. Andrew Sandquist, JC Asensio and Briggs Goldberg represented the sellers, Singerman Real Estate and Green Door Capital. Chicago-based Syndicated Equities and Green Door Capital purchased the property.

September 7, 2017

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