HAMILTON, OHIO — NorthMarq Capital has arranged a $10.2 million loan for the refinancing of Vora Technology Park in Hamilton, located in the Cincinnati metro area. The office property spans 365,000 square feet. Susan Branscome and Noah Juran of NorthMarq arranged the 10-year loan, which features a 20-year amortization schedule. First Financial Bank provided the loan. The undisclosed borrower purchased the property in 2005.
TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the sale of the Jesse James Plaza, a 35,850-square-foot retail center in Toledo, for $2.9 million. Examples of tenants include Safelite Autoglass, Wings & Grill and Reynolds Laundromat. The Kansas-based buyer purchased the property for 96 percent of the list price. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a private investment group out of Ohio.
BEAVERCREEK, OHIO — Confluent Development and Harbor Retirement Associates (HRA) are developing HarborChase of Beavercreek, a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Slated to open in summer 2018, the 122,000-square-foot community will be located at 4175 Indian Ripple Road on a seven-acre site. The property will feature 24-hour staff, full-service dining, a barber and beauty salon, library, fitness center, game room, walking path and gardens and transportation and housekeeping services. Confluent Development will own HarborChase of Beavercreek, while HRA will manage the property. This is the second partnership for the two companies.
CUYAHOGA FALLS, OHIO — Colliers International has arranged the sale of Cuyahoga Falls Market Center in Cuyahoga Falls, about five miles north of Akron, for $11.5 million. The 76,358-square-foot retail center includes tenants such as PetSmart, Big Lots, Five Below, Chipotle, Verizon Wireless and Starbucks. Kevin James and Grant Chaney of Colliers arranged the sale on behalf of the seller, Cuyahoga Falls LLC. A New York City-based private investor purchased the property.
MAUMEE, OHIO — Reichle Klein Group has negotiated a 26,586-square-foot office lease in Maumee, a southwest suburb of Toledo. Adecco USA Inc. will occupy Suite 200 within the Arrowhead Business Park, located at 1695 Indian Wood Circle. Mike Poulos, Harlan Reichle and Walter Plath of Reichle Klein represented the landlord, Arrowhead Toledo Realty LP. Jason Westendorf of Reichle Klein represented Adecco USA, which is a job staffing firm.
INDIANA, MINNESOTA AND OHIO — Meridian Capital Group has arranged the $57.5 million refinancing for a 15-property multifamily portfolio located across five states. The 1,192-unit portfolio includes Ridgewood and Meadowood in Indiana; Laurel Bay and Carleton Court in Minnesota; and Camellia Court, Beckford Place, Forsythia Court, Slate Run, Tabor Ridge, Foxhaven and River Glen in Ohio. Four other properties within the portfolio are located in Georgia and Kentucky. Cary Pollack, Judah Neuman and Steve Cohen of Meridian Capital arranged the 10-year CMBS loan. Reliance Global Holdings was the borrower.
STRONGSVILLE, OHIO — Meridian Design Build has completed construction of a 185,210-square-foot industrial building for developer Scannell Properties in Strongsville, a suburb of Cleveland. The property is situated on a 21.8-acre site at 14700 Foltz Parkway. The multi-tenant building features 28 loading docks, two drive-in doors and parking for 164 cars. The design of the building incorporates a thermoplastic polyolefin roof and LED lighting. Precept Design provided architectural services, while Weber Engineering Services completed civil engineering work.
NORTH RIDGEVILLE, OHIO — Marcus & Millichap has brokered the sale of a 15,000-square-foot retail property net leased to Walgreens in North Ridgeville, about 22 miles southwest of Cleveland, for $5.4 million. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Melinda Marston of JRW Realty represented the buyer, a California-based private fund.
SHARONVILLE, OHIO — NorthMarq Capital has arranged a $7.7 million refinancing loan for Crescent Centre in Sharonville, about 15 miles north of Cincinnati. The 131,400-square-foot industrial property spans the addresses of 12071-12082 Champion Way, 12092-12108 Champion Way and 2511 East Crescentville Road. The 10-year loan includes a 25-year amortization schedule. A life insurance company provided the loan.
COLUMBUS, OHIO — Following a multi-year collaboration, M+A Architects has formally acquired KMA Design Partners’ (KMA/DP) institutional practice. KMA/DP, an architectural design and planning partnership also headquartered in Columbus, will cease to exist. KMA/DP focused on healthcare, civic and urban development, community and educational facilities. P’Elizabeth Koelker, co-founder of KMA/DP, has been directing M+A’s healthcare and higher education practices during the merger, and will continue in that role as principal with M+A Architects. Three other employees, Dottie Stamm, Ken Cleaver and Wes Hawkins, will also transition into roles with M+A Architects as associates.
