REBusinessOnline

Curtis-Layer Design Build Breaks Ground on 150,000 SF Spec Warehouse in Streetsboro, Ohio

STREETSBORO, OHIO — Curtis-Layer Design Build has broken ground on a 150,000-square-foot speculative warehouse in Streetsboro, about 30 miles southeast of Cleveland. The building will feature precast concrete and glass panels and a clear height of 32 feet. The site is located near the Frost Road interchange at I-480 and approximately a half-mile from the Ohio Turnpike. Completion is slated for first-quarter 2020. Bob Brehmer of NAI Pleasant Valley is marketing the property for lease. A …

Dakkota Integrated Systems Signs 66,603 SF Industrial Lease in Toledo, Ohio

TOLEDO, OHIO — Dakkota Integrated Systems has signed a 66,603-square-foot industrial lease in Toledo. The supplier of Jeep parts is expanding and doubling its size at the facility, which spans 1.1 million square feet and is situated on 46 acres at 315 Matzinger Road. The lease term is for five years and five months. Ron Jurgenson of Reichle Klein Group and Rob Hughes of Newmark Knight Frank negotiated the lease. I.B.C. Inc. is the

Welltower Shakes Up Portfolio, Commits to Nearly $2.75B in Transactions

TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has expanded its senior living portfolio to the tune of 15 properties worth $949 million across the country. Simultaneously, the healthcare REIT giant exited its partnership with seniors housing operator Benchmark Senior Living, selling its 48-property portfolio to an undisclosed buyer for $1.8 billion. The 48 properties that Benchmark operates total 4,137 units and are located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and …

Total Quality Logistics to Expand Headquarters in Ohio With $20M Building

UNION TOWNSHIP, OHIO — Total Quality Logistics (TQL) has unveiled plans to construct a 120,000-square-foot, second building on its headquarters campus at Ivy Pointe Boulevard in Union Township near Cincinnati. The goal of the expansion is to accommodate nearly 600 new employees that the company anticipates hiring, primarily in sales and information technology roles, over the next five years. TQL is a freight brokerage company, offering truckload and intermodal logistics services. The …

NorthMarq Arranges $3.4M Refinancing of Office Property in Cincinnati

CINCINNATI — NorthMarq has arranged a $3.4 million loan for the refinancing of Eastgate Professional Office in Cincinnati. The 36,000-square-foot office property is located on Ferguson Road. Susan Branscome of NorthMarq arranged the seven-year, fixed-rate loan, which features a 20-year amortization schedule. A life insurance company provided the

SkyView Advisors Brokers Sale of 280-Unit Self-Storage Facility in Monroe, Ohio

MONROE, OHIO — SkyView Advisors has brokered the sale of Monroe Stor & Lock Self Storage in Monroe, about 30 miles north of Cincinnati. The sales price was not disclosed. The 50,050-square-foot self-storage facility consists of 280 non-climate-controlled units and 165 exterior storage spaces. The property is located at 889 Lebanon St. Zack Urow and Ryan Clark of SkyView represented the seller. Merit Hill Capital purchased the

Cincinnati Industrial Market Absorption Drives 8 MSF in New Construction

In 2018, the Greater Cincinnati industrial market experienced record-breaking positive net absorption of 7 million square feet, the highest level of absorption in more than a decade. This was followed by only 201,000 square feet of direct net absorption in the first quarter of this year, which at first glance could be concerning. But the good news is that 8 million square feet is currently under construction across our market. Over the past five years, new construction deliveries have been a …

NorthMarq Arranges $8.1M Acquisition Loan for Multifamily Portfolio in Metro Cincinnati

CINCINNATI — NorthMarq has arranged an $8.1 million loan for the acquisition of an 11-property multifamily portfolio located in metro Cincinnati. The properties range in size from eight to 58 units with a total unit count of 337. Noah Juran of NorthMarq arranged the loan with a local bank on behalf of the undisclosed borrower. The 10-year, fixed-rate loan has a 30-year amortization

Modern Builders Supply Signs 125,000 SF Industrial Lease in Toledo, Ohio

TOLEDO, OHIO — Modern Builders Supply Inc. has signed a 125,000-square-foot industrial lease at 4100 Bennett Road in Toledo. The locally based company, which was founded in 1944 and distributes name-brand roofing, siding, windows and doors, has more than doubled its warehouse space with this new lease. Lynette Reichle of Reichle Klein Group represented the tenant in the lease transaction. Ronald Jurgenson of Reichle Klein represented the landlord, I.B.C.

Amazon to Open Two 700,000 SF Fulfillment Centers in Ohio

AKRON AND ROSSFORD, OHIO — Amazon (NASDAQ: AMZN) will open two fulfillment centers in Ohio in a move that will bring more than 2,500 new jobs to the northern part of the state. The properties, each of which will span more than 700,000 square feet, will be located in Akron and Rossford, the latter being a suburb of Toledo. The developments will be the e-commerce giant’s seventh and eighth industrial assets in Ohio, and will be used to sort, pack and ship various items to customers in the …

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