Ohio

Easton Town Center in Columbus Welcomes 10 New Retailers, Restaurants

by Kristin Harlow December 20, 2022

COLUMBUS, OHIO — Shopping destination Easton Town Center has welcomed 10 new retailers and restaurants. Co-developed by L Brands, The Georgetown Co. and Steiner + Associates, Easton Town Center was recently expanded to include an additional 140,000 square feet of entertainment and retail space as well as 125,000 square feet of office space. Here are the highlights of the 10 new tenants: Parachute is a home décor company that operates more than 20 retail stores nationwide. Easton is the first Ohio store for the brand. Amazon Style has opened its second store in the U.S. following its first in Los Angeles. Shoppers can utilize the Amazon Shopping app during their in-store experience. FREEBIRD is a luxury handmade footwear brand known for its boots. This is the first store in Ohio for the brand. Bridal store Vow’d has also opened its first location in Ohio. Garage sells women’s apparel, particularly denim and cargo bottoms. Clean Origin, which exclusively sells lab-grown diamonds, has opened its first store in Ohio. Dos Hermanos has opened its first standalone location in Columbus. The Mexican restaurant also offers cooking classes. Pacas has opened its first brick-and-mortar location. The company sells alpaca fleece socks as well as …

December 20, 2022

Acquisitions Midwest Ohio Retail

Sekulovski Group Brokers $14M Sale of Shopping Center in Steubenville, Ohio

by Kristin Harlow December 14, 2022

STEUBENVILLE, OHIO — Sekulovski Group has arranged the $14 million sale of Rural King Plaza, a 215,360-square-foot shopping center located in Steubenville, roughly 40 miles west of Pittsburgh. A Brooklyn-based private investor acquired the property from PICOA Inc. of Los Angeles. Tony Sekulovski of Sekulovski Group brokered the transaction. Anchor Rural King, a farm supply store, occupies 104,230 square feet at the retail center, which was 97 percent leased at the time of sale. Other tenants at the property include Ollie’s and Planet Fitness, which occupy 43,600 and 20,365 square feet, respectively. A 17,000-square-foot Dollar Tree and a Kay Jewelers store also occupy the center.

December 14, 2022

Acquisitions Midwest Ohio Retail

Marcus & Millichap Arranges $10.6M Sale of Shopping Center in Lancaster, Ohio

by Kristin Harlow December 9, 2022

LANCASTER, OHIO — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants such as Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.

December 9, 2022

Development Industrial Midwest Ohio

Contegra Completes 1.1 MSF Distribution Center Near Columbus, Ohio

by Kristin Harlow December 8, 2022

ETNA TOWNSHIP, OHIO — Contegra Construction Co. has completed a 1.1 million-square-foot distribution center at The Cubes at Etna 70 development in Etna Township near Columbus. Known as Building E, the speculative facility features a clear height of 40 feet, 108 dock doors, four drive-in docks and parking for 289 tractor-trailers and 298 cars. The developer was CRG and its capital partner LXP Industrial Trust. Lamar Johnson Collaborative served as architect. At full buildout, CRG’s The Cubes at Etna 70 will provide up to 2.9 million square feet of industrial space across 220 acres.

December 8, 2022

Development Midwest Mixed-Use Ohio Top Stories

Bedrock, City of Cleveland Unveil Plans for $3.5B Cuyahoga Riverfront Project

by Taylor Williams December 5, 2022

CLEVELAND — A partnership between Detroit-based developer Bedrock and the City of Cleveland has unveiled plans for the Cuyahoga Riverfront, an initiative that will feature 3.5 million square feet of new development and adaptive reuse projects across 35 acres of publicly and privately owned waterfront land. According to multiple news outlets including The Plain Dealer and Spectrum News, the project is valued at $3.5 billion. Preliminary plans for the site call for the addition of approximately 2,000 residential units, 850,000 square feet of office space and 12 acres of open public space, as well as hospitality, retail and restaurant uses. The development team is targeting a 15- to 20-year timeline for full buildout and transformation of the site. In addition, Bedrock partnered with Sherwin-Williams Co. to acquire Landmark Office Towers and the Breen Technology Center. Specific plans regarding the future use of these buildings were not immediately disclosed. The development team — which includes master architect David Adjaye, local firm Osborn Engineering and urban planning firm MKSK — views the site as a natural connective bridge between the Cuyahoga River and downtown Cleveland. Adjaye spent the last several months in Cleveland cultivating a plan to make that vision a reality. …

December 5, 2022

Acquisitions Midwest Office Ohio

Tempus Realty Partners Acquires Lane Bryant Headquarters Campus for $42M

by Kristin Harlow November 21, 2022

NEW ALBANY, OHIO — Tempus Realty Partners has acquired Lane Bryant’s headquarters campus in New Albany, a northeast suburb of Columbus. The purchase price was $42 million. The two-building office property spans 236,070 square feet. Amenities include an onsite café, fitness center, water feature, walking trail and green space. Lane Bryant, a plus-size women’s apparel retailer with 450 stores nationwide, will remain a tenant at the property for at least the next 20 years. The transaction marks the sixth acquisition in the Columbus-area market for Tempus, which focuses on the South and Midwest markets.

November 21, 2022

Acquisitions Industrial Midwest Ohio

Matthews Arranges $9M Sale of Industrial Building in Elyria, Ohio

by Kristin Harlow November 17, 2022

ELYRIA, OHIO — Matthews Real Estate Investment Services has arranged the $9 million sale of a 256,595-square-foot industrial building in Elyria, a southwest suburb of Cleveland. The property sits on 15.5 acres at 860 Garden St. Matt Kovesdy and Jonah Yullish of Matthews represented the seller, a local partnership that purchased the property in the early 2000s as a value-add opportunity. The buyer, Dura-Line, is also a tenant at the facility. Dura-Line elected to purchase due to the building’s importance to its operations, according to Matthews. The transaction closed at $500,000 above the listing price.

November 17, 2022

Affordable Housing Development Midwest Multifamily Ohio

NRP Group Opens 88-Unit Affordable Housing Community in Cleveland

by Kristin Harlow November 16, 2022

CLEVELAND — The NRP Group has opened 5115 at The Rising, an affordable housing community in Cleveland’s Broadway-Slavic Village. The project consists of 78 apartment units and 10 townhome units, all of which are affordable residences that will be reserved for low- to moderate-income renters. Supported by the Ohio Housing Finance Agency’s Housing Tax Credit program, the community currently has a waitlist of potential residents and has received more than 2,200 inquiries. Additional funding came from KeyBank, Ohio Capital Corp. for Housing, City of Cleveland and Third Federal Foundation. University Settlement, which provides community, family, youth and senior programs, is relocating its offices to the building, occupying 20,000 square feet on the first floor. Another 5,000 square feet of commercial space will serve as a food pantry and a Cuyahoga Community College Access Center.

November 16, 2022

Loans Midwest Office Ohio

JLL Arranges $155M in Acquisition Financing for Columbus Office Campus

by Kristin Harlow November 15, 2022

COLUMBUS, OHIO — JLL Capital Markets has arranged $155 million in acquisition financing for a 400,000-square-foot office campus in Columbus. Paul Spellman and Phil Galligan of JLL arranged the fixed-rate financing on behalf of the borrower, Golden Eagle Group Inc. Further details of the transaction were not provided.

November 15, 2022

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Arranges $1.7M Sale of Taco Bell-Occupied Property in Gahanna, Ohio

by Kristin Harlow November 14, 2022

GAHANNA, OHIO — The Cooper Commercial Investment Group has arranged the $1.7 million sale of a restaurant building occupied by Taco Bell in Gahanna, a northwest suburb of Columbus. The property serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The sales price represents a cap rate of 4.5 percent and $694 per square foot. Taco Bell signed a 20-year lease extension at the property in 2020.

November 14, 2022

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