URBANA, OHIO — Marcus & Millichap has brokered the $1.3 million sale of a net-leased retail property in Urbana, approximately 40 miles northeast of Dayton. The 9,000-square-foot building, located at 1620 E. U.S. Highway 36, is leased by Dollar Tree, which recently signed a 10-year lease. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap listed the property on behalf of the seller, an Indiana-based developer. The trio, along with Dustin Javitch of Marcus & Millichap, also procured and represented the buyer, a California-based investor.
LANCASTER, OHIO — Marcus & Millichap has arranges the sale of a 120-unit apartment community in Lancaster for $4.9 million. Oak Valley is located at 1899 Independence Blvd. and was built between 1993 and 1998. The property offers one- and two-bedroom townhomes and ranch units. Jordan Marshall, Richard Lattro, Daniel Burkons, Michael Barron and Joshua Wintermute of Marcus & Millichap listed the property on behalf of the sellers and procured the buyer in the transaction. Both parties were undisclosed.
GENEVA, OHIO — Lee & Associates has arranged the $14.3 million sale of a manufacturing facility used for research and development in Geneva, approximately 50 miles northeast of Cleveland. Triple Net Acquisitions LLC purchased the single-tenant property from Chadbourne Industries and Austieboy LLC. The property consists of 239,454 square feet split between two buildings. The buildings were renovated in 2006 and 2008. At the time of sale, Hunter Defense Technologies (HDT Global Inc.) had 10 years remaining on a 15-year, triple-net lease. HDT Global is a manufacturer of products for mobile expeditionary missions in extreme environments for military, government, industrial and commercial market customers. Ryan Barr, Ryan Bennett and Joseph Greenberg of Lee & Associates represented the sellers in the transaction. Brian Garbutt of Lee & Associates represented the buyer.
MIAMISBURG, OHIO — Foresite Realty OH LLC, an affiliate of Foresite Realty Partners, has brokered the sale of an 117,410-square-foot shopping center in Miamisburg, a southwest suburb of Dayton, for an undisclosed price. Southland 75 Shopping Center is anchored by Hobby Lobby and Dollar Tree. The retail center, located at 8265-8361 Springboro Pike, is shadow anchored by Furniture Fair and the Dayton Mall. The buyer, an affiliate of RCG Ventures that specializes in value-add retail properties, was represented by Jeff Miller of RCG. Foresite Realty represented the undisclosed seller in the transaction.
NORTHGATE, OHIO — CBRE Group has arranged the sale of a long-term, net-leased Burger King restaurant in Northgate, 20 miles northwest of Cincinnati. The purchase price was $1.9 million. The 2,600-square-foot property is situated on an outparcel within the Northgate Mall development. Mall tenants include ULTA, Marshalls, Michaels, XScape Cinemas, hhgregg and Burlington Coat Factory. Hank Davis of CBRE represented the seller, Tabani Group. Barry Silver of Silver Group represented the undisclosed buyer. GPS Hospitality operates the Burger King.
CENTERVILLE, OHIO — Marcus & Millichap has brokered the sale of a 19,722-square-foot retail property in Centerville, a southern suburb of Dayton, for $2.7 million. Cross Pointe IV is located at 199 E. Alex Bell Road and is fully occupied. Tenants include Firestone and AT&T. The property is an outparcel to a larger retail center that is anchored by Marshalls, Earth Fare, Petco and Bed Bath & Beyond. C.J. Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a private investor. The team also secured and represented the buyer, an out-of-state private investor.
ELYRIA, OHIO — The Cooper Commercial Investment Group has brokered the sale of a 179,646-square-foot retail center in Elyria, a southwest suburb of Cleveland, for $5.5 million. Midway Crossing is anchored by Olive Garden, Chipotle, Verizon and Planet Fitness. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, a New York-based institutional seller. The buyer was an Arizona-based private investment group.
DAYTON, OHIO — Marcus & Millichap has arranged the sale of a 36,756-square-foot retail center for $7.5 million. Sugarcreek Crossing I is comprised of three separate buildings and located at 5800 Wilmington Pike in Dayton. Tenants of the inline strip center include Mattress Firm, The UPS Store, Eagle Loan and Godfather’s Pizza. Tenants in the freestanding buildings include Cracker Barrel and Tire Discounters. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, an Ohio-based developer. They also secured and represented the buyer, a Washington-based private fund.
CLEVELAND, OHIO — Friedman Integrated Real Estate Solutions has brokered the sale of a 41,780-square-foot retail property in Cleveland. Brooklyn Centre is located at 3712-3762 W. 125th St. and is situated on 2.9 acres. The retail center was built in 1993 and is comprised of three buildings. The largest building is 29,780 square feet and is configured for a single tenant. The other two buildings are 6,000 square feet each. One facility is for a single tenant, and the other is a multi-tenant building. Tenants in Brooklyn Centre include Rent-A-Center and CVS Pharmacy. Rich Deptula of Friedman represented both undisclosed parties in the transaction.
CINCINNATI, OHIO — NorthMarq Capital has arranged $7.2 million in acquisition financing for Kemper Point in Cincinnati. Kemper Point is a 96,418-square-foot office building located at 7870 Kemper Road. An affiliate of Smith/Hallemann Partners was the borrower. The transaction was structured with a 10-year term and 25-year amortization schedule. Susan Branscome of NorthMarq arranged the financing. Tenants in the office building include Comey & Shepherd Relators, Hazen and Sawer P.C. and Kiwiplan Inc.