CLEVELAND — In a sale-leaseback transaction, MAG Capital Partners has acquired a 117,704-square-foot industrial facility in Cleveland. The purchase price was undisclosed. A global IT solutions and endpoint management company was the seller. Located at 4371 Pearl Road, the property was fully redeveloped in 2018. There are 38 drive-in doors and ceiling heights ranging from 14 to 21 feet. Blair Wood and Kevin Joseph of WWM Real Estate represented the seller.
COLUMBUS, OHIO — Contegra Construction Co. is building a 179,000-square-foot freezer-cooler facility in Columbus. Crawford Hoying and BGO Cold Storage are developing the project and are seeking LEED certification for the development, completion of which is slated for the second quarter of 2024. Plans call for a 141,824-square-foot freezer zone with a clear height of 50 feet and a 32,346-square-foot cold dock storage with a clear height of 30 feet. The remaining square footage will include mechanical and finished office space. The project site encompasses 14 acres at 2865 Charter St.
LIBERTY, MO., AND STRONGSVILLE, OHIO — Trident Capital Group has acquired two Class A warehouses in Missouri and Ohio for an undisclosed price. In Liberty, Mo., Trident acquired Heartland Meadows Commerce Center, which totals 181,321 square feet. The asset was fully occupied by two tenants at the time of sale and marks Trident’s first investment in the Kansas City market. Separately, Trident expanded its presence in Ohio with the acquisition of a 185,210-square-foot building located within the Mills Business Park in Strongsville, a suburb of Cleveland. The facility was fully leased to three tenants at the time of sale. Trident worked with CBRE on the acquisitions. Sellers were not provided.
COLUMBUS, OHIO — A joint venture between Clear Height Properties and MLG Capital has completed the lease-up of a 290,573-square-foot industrial building in Columbus. A single tenant, a mechanical contracting services provider for large-scale construction projects, leased the building at 1675 Watkins Road that is part of the larger Watkins Road Industrial Park. Nick Tomasone, Joe Davis and Josh Weithman of JLL represented ownership, while Mike Semon of NAI Ohio Equities LLC represented the tenant.
OHIO, INDIANA AND TENNESSEE — Lument has provided four loans totaling $11.5 million on behalf of United Church Homes, a nonprofit that has developed more than 2,700 residential units and specializes in affordable and mixed-income apartment communities. Paul Weissman and Andy Nicoll of Lument originated the FHA Section 223(f) loans. The four loans include $1.8 million for Pickfair Square, a 33-unit property in Pickerington, Ohio; $4.8 million for Salem Manor, an 84-unit property in Fort Wayne, Ind.; $2.3 million for Fox Hollow, a 40-unit community in Covington, Tennessee; and $2.5 million for Canal Village, a 45-unit asset in Canal Winchester, Ohio. Loan proceeds enable the borrower to make significant repairs to the units.
COLUMBUS, OHIO — Victoria’s Secret has opened its newly renovated store at Easton Town Center, a shopping destination in Columbus. The “store of the future” concept aims to create a more welcoming space for all shoppers with mannequins representing a range of sizes, inclusive product offerings and an easy-to-navigate layout. The store also features more efficient lighting and HVAC systems along with low-flow toilets. New fitting room technology, Crave, links each product with the store’s computer system through radio frequency identification tags. The technology enables customers to communicate with store associates from their fitting rooms.
HILLIARD, OHIO — Comunale Properties has acquired a 19,671-square-foot industrial building located on Parkway Lane in Hilliard, a northwest suburb of Columbus. The purchase price was undisclosed. The seller will lease back a portion of the property’s warehouse space on a short-term basis while relocating its operations. Immediately upon acquisition, Comunale leased the remainder of the building to a national mechanical, fire protection and HVAC services company that will eventually occupy the entire premises. Situated on three acres, the building features a clear height of 24 feet. Ray Boll and Jeff Boll of RJ Boll Realty represented the undisclosed seller.
BEACHWOOD, OHIO — Matthews Real Estate Investment Services has brokered the $31.5 million sale of Pavilion Shopping Center in Beachwood, an eastern suburb of Cleveland. Located at 24055 Chagrin Blvd., the retail property features 207,000 square feet of leasable area and is fully occupied by 19 tenants. Anchor tenants include Giant Eagle, Ross Dress for Less, Big Lots and Michaels. The center was built in 1975 and renovated in 2013, according to LoopNet. Ben Snyder, Zachary Bates and Matthew Wallace of Matthews Real Estate represented the undisclosed seller. Marquee Capital was the buyer. The deal marked the second largest shopping center transaction in Ohio this year, according to the brokerage.
CLEVELAND — The NRP Group has opened The Davis, a 52-unit affordable housing community in Cleveland’s Glenville neighborhood. NRP partnered with University Hospitals to develop the project, which also includes the UH Community Wellness Center. The project marks NRP’s third “Health and Housing” development. Each of these affordable housing communities was created in partnership with the City of Cleveland. The UH Community Wellness Center offers healthy cooking demonstrations, a Food For Life Market, support for pregnant women and young mothers, programs to combat senior citizen isolation, telehealth services and training in workforce and financial literacy. The Davis is located on the site of the former Harry E. Davis Elementary School, which has sat vacant since 2006. Harry E. Davis was a Cleveland native who served four consecutive terms in the Ohio State House before becoming the first African American member of the Cleveland Civil Service Commission and serving as an Ohio State Senator. The property comprises one-, two- and three-bedroom units along with four-bedroom townhomes. Residents must earn at or below 60 percent of the area median income. Amenities include a community room, fitness center, playground, business center and laundry facilities. RDL Architects served as the architect. Ohio Finance Housing …
ROSSFORD, OHIO — Colliers has arranged the sale of a 182,000-square-foot distribution center in Rossford near Toledo for an undisclosed price. UPS Mail Innovations Inc., a wholly owned subsidiary of UPS Inc., occupies the facility on a new seven-year double net lease with two five-year renewal options. Located at 29940 Glenwood Road directly off I-75, the newly built property features a clear height of 32 feet and 32 dock doors. Alex Cantu and Alex Davenport of Colliers represented the buyer, an entity doing business as Congaree River LLC. Scannell Properties, which developed the facility in 2022, was the seller.
