Stage Equity Partners Acquires 15,100 SF Medical Office Building Near Toledo, Ohio

PERRYSBURG, OHIO — Stage Equity Partners LLC has acquired a 15,100-square-foot medical office building in Perrysburg, about 10 miles southwest of Toledo. McLaren St. Luke’s fully occupies the building under a long-term lease. McLaren St. Luke’s is a local hospital and a subsidiary of McLaren Health Care Corp., one of the largest healthcare systems in the Midwest. Built in 2018, the Perrysburg property was designed for McLaren St. Luke’s primary care practice, including its sole …

August 19, 2021Acquisitions, Healthcare, Midwest, Ohio

Pizzuti Underway on 324,000 SF Spec Industrial Building in Central Ohio

GROVEPORT, OHIO — The Pizzuti Cos. and development partner Olympus Ventures LLC are underway on the construction of Hamilton Road One Distribution Center, a 324,000-square-foot industrial building in central Ohio’s Groveport. The development team is undertaking the project on a speculative basis. Located on Hamilton Road, the site provides convenient access to I-270 and I-70. The building will feature a clear height of 32 feet, 57 dock doors, four grade doors, 212 auto parking spaces and 64 …

August 18, 2021Development, Industrial, Midwest, Ohio

Vision & Beyond Acquires 297-Unit Multifamily Property in Cincinnati

CINCINNATI — Vision & Beyond Capital Investments has acquired Clifton Colony, a 297-unit multifamily property in Cincinnati’s Clifton neighborhood. The purchase price was undisclosed. The buyer plans to invest $5 million to install new HFAC, windows and landscaping. The development will continue to serve the workforce housing population. No tenants will be displaced while renovations are underway. Monthly rents start at $610. Vision & Beyond says it plans to implement nominal rent …

August 18, 2021Acquisitions, Midwest, Multifamily, Ohio

Matthews Brokers $15.9M Sale of Ohio Veteran Affairs Portfolio

AKRON AND CANTON, OHIO — Matthews Real Estate Investment Services has brokered the sale of a three-property Veteran Affairs Center portfolio in Ohio for $15.9 million. Two of the centers are in Akron while the third is in Canton. Kyle Mackulak, Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed seller. The buyer is one of the top buyers in the U.S. for properties leased to Veteran Affairs, according to

August 16, 2021Acquisitions, Civic, Midwest, Ohio

Wendy’s, REEF to Develop 700 Delivery Kitchens Across North America, Europe by 2025

DUBLIN, OHIO AND MIAMI — The Wendy’s Co. and REEF have unveiled plans to open and operate 700 delivery kitchens over the next five years across the U.S., Canada and the United Kingdom. Miami-based REEF is a mobility, logistics hubs and kitchen operator. The development commitment builds upon the successful test of eight delivery kitchens in Canada beginning in late 2020, according to a news release. Through this commitment, REEF will become the first Wendy’s franchisee in the United …

August 13, 2021Development, Midwest, Ohio, Restaurant, Retail

Cincinnati Industrial Market Is Positioned for Even More Growth

By Jeff Bender, Cushman & Wakefield Cincinnati and Northern Kentucky have the same logistical advantages they’ve always had, with their location within a day’s drive of two-thirds of the U.S. population, allowing reach and penetration to major metro areas. With those advantages, the region has enjoyed a robust industrial market, similar to most key markets in the country. Lessons learned from the pandemic, the pending opening of a nearly 1 million-square-foot e-commerce national air …

August 12, 2021Industrial, Market Reports, Midwest, Midwest Market Reports, Ohio

Fairfield Homes Begins Development of $15.5M Affordable Housing Project in Cincinnati

CINCINNATI — Fairfield Homes Inc., in partnership with Kingsley + Co. and the Avondale Development Corp., has begun development of Blair Lofts, a $15.5 million affordable housing project in Cincinnati’s Avondale neighborhood. The four-story, 64-unit development will serve residents who earn 30 to 60 percent of the area median income. Located on the corner of Blair Avenue and Reading Road, the project will include a community room, community kitchen, fitness center, onsite storage and onsite …

August 10, 2021Affordable Housing, Development, Midwest, Multifamily, Ohio

Marcus & Millichap Arranges $8.5M Sale of Shopping Center in Huber Heights, Ohio

HUBER HEIGHTS, OHIO — Marcus & Millichap has arranged the $8.5 million sale of North Heights Plaza in Huber Heights, just north of Dayton. The 113,732-square-foot shopping center was fully occupied at the time of sale. Anchor tenants include Hobby Lobby and Bed Bath & Beyond. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller marketed the property on behalf of the seller, a private out-of-state investor. The team procured the buyer, ExchangeRight, in collaboration with JRW

August 10, 2021Acquisitions, Midwest, Ohio, Retail

ILPT Acquires 357,504 SF Industrial Building in Columbus, Ohio, for $31.5M

COLUMBUS, OHIO — Industrial Logistics Properties Trust (ILPT) has acquired a 357,504-square-foot industrial building in Columbus for $31.5 million. The property is located at 7303 Rickenbacker Parkway West near the Rickenbacker intermodal terminal and airport. Synnex Corp. fully occupies the facility on a seven-year, net-lease basis. Steve Disse, Alex Cantu, Jeff Devine and Michael Linder of Colliers International brokered the sale, which includes excess land that can accommodate future …

August 6, 2021Acquisitions, Industrial, Midwest, Ohio

Berkadia Arranges $72.9M Loan for Refinancing of Apartment Tower in Cleveland

CLEVELAND — Berkadia has arranged a $72.9 million loan for the refinancing of The Beacon in Cleveland. Located at 515 Euclid Ave., the high-rise multifamily property features one- and two-bedroom units. Amenities include a pool, fitness center, rooftop sky lounge, dog park and onsite restaurants. Mark Vogel and Dan Geuther of Berkadia arranged the loan on behalf of the borrower, Ohio-based Stark Enterprises. Global investment firm KKR provided the seven-year loan, which features a 4 percent …

August 5, 2021Loans, Midwest, Multifamily, Ohio