Ohio

Historic Cincinnati Building to Become Mixed-Use Development

by Danielle Everson November 6, 2014

CINCINNATI — Village Green has purchased 309 Vine St. in downtown Cincinnati and plans to redevelop the 300,000-square-foot building into a mixed-use property. The redeveloped building is set to open under a new name in 2016. Plans for the property include the addition of luxury apartments, penthouses, a market, restaurant and offices. The 1920s era, Beaux–Arts commercial building was originally an annex to the PNC Tower. In the 1800s it was the site of The Burnet Hotel, known for hosting President-elect Abraham Lincoln on his inaugural journey to Washington D.C.

November 6, 2014

Midwest Ohio Retail

M&M Arranges $8.7M Sale of 140,918 SF Shopping Center in Mentor, Ohio

by Danielle Everson November 5, 2014

MENTOR, OHIO — Marcus & Millichap has arranged the $8.7 million sale of Mentor City Shopping Center. The 140,918-square- foot retail property is located at 7845 Mentor Ave. in Mentor. Babies R Us, T.J. Maxx, Dollar Tree and Aldi anchor the shopping center, which was 96 percent occupied at the time of sale. Seth Richard of Marcus & Millichap’s Manhattan office and Laurie Ann Drinkwater of Marcus & Millichap’s Boston office, along with the firm’s retail team of Craig Fuller, Erin Patton and Scott Wiles, represented the New York-based seller. Wiles, Patton and Fuller also represented the undisclosed buyer.

November 5, 2014

Midwest Mixed-Use Ohio Retail

Edge Real Estate Group Arranges Two Retail Leases at Oakley Station in Cincinnati

by Danielle Everson November 4, 2014

CINCINNATI — Edge Real Estate Group has arranged two retail leases at Oakley Station in Cincinnati. Bar Louie has signed a lease for 6,300 square feet of space and Pet Supplies Plus has signed a lease for 9,750 square feet of space. Bar Louie will be located on Vandercar Way at Factory Colony Way, and Pet Supplies Plus will be located adjacent to Kroger Marketplace. Michael Halonen and Melissa Ruther of Edge represented the landlord, USS Realty, in both lease transactions. Oakley Station is a 74-acre, mixed-use development. Cincinnati Milacron, a manufacturing complex, formerly occupied the center.

November 4, 2014

Midwest Office Ohio

M&M Arranges Sale of 11,750 SF Office Building in Columbus

by Danielle Everson October 29, 2014

COLUMBUS — Marcus & Millichap has arranged the $260,000 sale of an 11,750-square-foot office property in Columbus. The property is located at 5918 Sharon Woods Blvd. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller, a partnership. The team also represented the buyer, a private investor who plans to convert the multi-tenant office building into a single-tenant church location.

October 29, 2014

Midwest Multifamily Ohio

M&M Arranges Sale of 376-Unit Apartment Community

by Danielle Everson October 27, 2014

COLUMBUS — Marcus & Millichap has arranged the sale of Whispering Pines, a 376-unit apartment community in Columbus. Whispering Pines is located at E. Dublin-Granville Road between I-71 and I-270. The community features townhomes and one-, two- and three-bedroom floor plans. Amenities at the property include a clubhouse, community room, fitness center, laundry facility, swimming pool, tennis courts and picnic area. Michael Barron, Daniel Burkons and Joshua Wintermute of Marcus & Millichap’s Cleveland office, along with Richard Lattro and Jordan Marshall of the firm’s Columbus office, represented the seller, a Philadelphia-based limited liability company. Barron, Burkons and Wintermute also secured the buyer, an out-of-state private investment group.

October 27, 2014

Midwest Ohio

Mark F. Taggart Co., Fed One Dublin Developing Art Office Warehouse Space

by Danielle Everson October 24, 2014

GAHANNA, OHIO — Mark F. Taggart Co. and Fed One Dublin will develop an art office warehouse space at the Eastgate Industrial Park in Gahanna, a suburb northeast of Columbus. The 80,000-square-foot facility, located at 1801-1831 Deffenbaugh Court will feature insulated concrete tilt up panels, a 26-foot clear height, ESFR fire suppression, trailer parking and two story glass entrance features. The project broke ground on Oct. 1 and is scheduled for completion in January 2015. Mark F. Taggart Co. purchased the nearly seven-acre lot for an undisclosed sales price. Project financing was made possible through a construction/permanent loan.

October 24, 2014

Midwest Ohio Retail

M&M Brokers $5.2M Sale of 48,300 SF Retail Property

by Danielle Everson October 21, 2014

SPRINGDALE, OHIO —Marcus & Millichap has brokered the $5.2 million sale of a 48,300-square-foot retail property in Springdale, an area on the northeast side of Cincinnati. Wimbledons Plaza is located at 11770-11818 Springfield Pike. An Outback Steakhouse anchors the shopping center. Tenants include Penn Station, H&R Block, Select Staffing, Dairy Queen and other local and regional tenants. C.J. Jackson, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Columbus and Cleveland offices represented the seller, a regional owner and developer. Nathan Whalen of the firm’s Indianapolis office represented the buyer, a private investment group.

October 21, 2014

Midwest Ohio Restaurant Retail

M&M Brokers Sale of 6,040 SF Restaurant Property

by Danielle Everson October 15, 2014

POWELL, OHIO — Marcus & Millichap has brokered the $930,000 sale of a 6,040-square-foot, net-leased restaurant property in Powell, approximately 17 miles north of Columbus. Luce Nuovo is located at 3499 Market St. The casual dining restaurant and wine bar serves Italian and French contemporary cuisine. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller and buyer, both limited liability companies.

October 15, 2014

Hospitality Midwest Ohio

Value Place Opens New Hotel in Cleveland

by Danielle Everson October 14, 2014

CLEVELAND — Value Place has opened a newly constructed extended-stay hotel in Cleveland. The property is located at the intersection of I-480 and Grayton Road at 20829 Emerald Parkway. The new four-story, 124-room hotel features laundry facilities, high-speed wireless Internet and modified kitchens. The hotel opened Oct. 10. This is Value Place’s 10th hotel in Ohio. A ribbon-cutting event is planned for Oct. 23.

October 14, 2014

Loans Midwest Ohio

M&M Capital Corp. Arranges $5.2M Acquisition Loan for Data Center

by Danielle Everson October 10, 2014

CANTON, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.2 million acquisition loan for a single-tenant data center in Canton. The center is leased to a non-investment-grade tenant. Dean Giannakopoulos of MMCC’s Chicago downtown office arranged financing for the undisclosed borrower. The 25-year loan is fixed at 3.97 percent. The loan-to-value ratio is 70 percent.

October 10, 2014

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