COLUMBUS, OHIO — The Woda Group Inc. has opened Wheatland Crossing in the Hilltop neighborhood of Columbus. The $8.6 million project features 42 affordable seniors housing units, developed for residents 55 and older who earn 60 percent or less of the area median income. The Ohio Housing Finance Agency provided private activity bonds, while the city of Columbus contributed a housing preservation bond grant. The project was also supported by the Low-Income Housing Tax Credit (LIHTC) program.
COLUMBUS, OHIO — Avison Young has brokered the sale of a two-building industrial portfolio spanning 451,215 square feet near Columbus. The sales price was not disclosed. Both buildings are located in Rickenbacker Global Logistics Park, a 1,777-acre park with 30 million square feet of development. The portfolio includes Rickenbacker IV, a 330,179-square-foot distribution center located at 2400 Spiegel Drive in Groveport, Ohio, and Creekside V, a 121,036-square-foot corporate laboratory facility located at 2150 Bixby Road in Lockbourne. Creekside V is 100 percent leased to Luxottica, a global eyewear company, which utilizes the space for its U.S. manufacturing and distribution operations. Luxottica has occupied the building since 2007 and has invested nearly $30 million in specialized equipment within the space. Rickenbacker IV is 70 percent leased to Essilor of America, an optical-lens manufacturer and distributor. Essilor moved to the property in 1999 and has increased its space by 46 percent since then. Erik Foster and Mike Wilson of Avison Young represented the seller, institutional investors advised by J.P. Morgan Asset Management. Exeter Property Group purchased the portfolio.
WILLOWICK, OHIO — Dougherty Mortgage LLC has provided a $24.8 million Fannie Mae loan for the refinancing of Shoregate Towers in Willowick, about 16 miles northeast of Cleveland. The 404-unit property is located at 30901 Lakeshore Blvd. Dougherty’s Minneapolis office arranged the 15-year loan, which features a 30-year amortization schedule. Shoregate Towers NS LLC was the borrower.
BLUE ASH, OHIO — Enervise has signed a 12,700-square-foot office lease at Vista Business Center II in Blue Ash, about 15 miles northeast of Cincinnati. Vista Business Center II, totaling 57,000 square feet, is part of a two-building office campus located along Alliance Road. Enervise, a commercial HVAC services company, is relocating from Evendale, Ohio, and will use the building as its new headquarters. Other tenants at the property include The Urology Group and Technical Training Associates. John Eckert, Travis Likes and Scott Yards of CBRE represented the landlord, Neyer Properties, in the lease transaction.
CINCINNATI AND DAYTON, OHIO — Confluent Development has completed two Verizon Wireless stores in Cincinnati and Dayton. The Cincinnati project is a renovation of a 4,522-square-foot freestanding, renovated facility along a retail corridor in the Western Hills area. Verizon relocated the Cincinnati store for a larger space. The renovation included the expansion of the sales floor area to enhance customer service. The store is located at 6211 Glenway Ave. The Dayton store is a 4,983-square-foot ground-up, build-to-suit development. Verizon decided to relocate the store in favor of the new facility’s more functional layout. Located at 2340 Miamisburg Centerville Road, the freestanding facility is in the Centerville neighborhood immediately adjacent to Target and near South Dayton Mall. The project marks one of the first Verizon Wireless locations built under the company’s new “Next Generation” store design, which incorporates the latest digital technology and merchandising concepts under Verizon’s new retail vision, according to Confluent.
CLEVELAND, OHIO — KeyBank Real Estate Capital has provided $163.1 million in financing through a Fannie Mae credit facility for the recapitalization of 14 manufactured housing properties in six states. Totaling 5,013 combined pad sites, the properties are part of a 23-property portfolio owned and operated by Inspire Communities. The property names were not disclosed. Todd Linehan of Key structured the financing with a 10-year term, five-year interest only period and 30-year amortization schedule. The loan will be cross-collateralized and cross-defaulted.
OHIO — Marcus & Millichap has brokered the sale of the Stop-N-Stor portfolio in Ohio for $31.4 million. The portfolio spans a total of eight properties, 3,050 units and 391,458 square feet in Lorain, Elyria, Cuyahoga Falls, Northwood, Oregon, Toledo and Stow, Ohio. The properties feature both nonclimate-controlled and climate-controlled units. Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, an out-of-state investment group.
COLUMBUS, OHIO — In spring 2009, the United States Green Building Council formally launched a new program with the vision of fundamentally changing how the country evaluated green design and development, LEED for Neighborhood Development (LEED-ND). The launch of the LEED-ND program coincided with the first phase of Columbus, Ohio-based Nationwide Realty Investors’ Grandview Yard development: a $700 million, 1.2 million-square-foot, master-planned mixed-use neighborhood located in the fast-growing Grandview Heights community, just minutes from downtown Columbus and The Ohio State University. The first standard of its kind, LEED-ND embraces principles of smart growth and new urbanism, encouraging sustainable and environmentally responsible design and development on a broad and integrated scale. Like a scene in a movie that begins with the camera tightly focused on one element before zooming out to reveal an eye-opening new perspective, LEED-ND is about acknowledging context and connection. Distinguished LEED project Grandview Yard was one of the Midwest’s first LEED-ND Silver neighborhoods. When site work began on the first phase of development of the project in September of 2009, a comprehensive and ambitious on-site reuse and recycling strategy was already in place. An extensive and highly-coordinated warehouse demolition process served as both a challenge and an …
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.