ENGLEWOOD, OHIO — Huey Magoo’s has opened its first restaurant in the state of Ohio in Englewood, a northern suburb of Dayton. The 2,500-square-foot building, located at 9196 N. Main St., is the 27th restaurant nationwide for the chicken tenders brand. The Englewood restaurant will offer dine-in, take out, curbside pickup and delivery through third-party services Uber Eats and DoorDash. Huey Magoo’s franchisees Tim and Ronda Hobart will operate the restaurant.
COLUMBUS, OHIO — Saltbox, a flexible warehousing and small-business logistics provider, has opened a new fulfillment hub in Columbus. The 80,000-square-foot building is the sixth Saltbox location nationwide and the first in Ohio. The property is situated near John Glenn Columbus International Airport, major railroads and I-270. Saltbox says the location enables its members to reach 67 percent of the U.S. population via two-day shipping. More than 70 percent of Saltbox’s 300 members are e-commerce companies that sell physical goods directly to consumers. Saltbox plans to open more locations across the U.S. this year. Saltbox members have access to the company’s warehouses and fulfillment services to assist in their e-commerce businesses.
CARMEL, IND. — Merchants Capital has completed a $214 million CMBS securitization of 14 multifamily mortgage loans. The loans are secured by 24 mortgaged properties through a Freddie Mac-sponsored Q-series transaction. Freddie Mac securitizes multifamily loans via its Q Certificate structure. In this process, a lender sells its loans, after approval by Freddie Mac, to a third-party depositor who places them into a third-party trust, which issues private-label securities backed by the loans. The $214 million in loans covered 14 multifamily properties in Georgia, Indiana, Michigan, New York and Ohio. The developments range in size from 60 to 352 units and the large majority of units are restricted for residents who earn up to 80 percent of the area median income. Merchants Capital is based in Carmel, Ind.
COLUMBUS, OHIO — Marcus & Millichap has arranged the sale of an 82,428-square-foot office building in Columbus for $4.2 million. Located at 6161 Busch Blvd., the property was 36 percent vacant at the time of sale. The undisclosed buyer plans to extensively renovate the building. Nathan Pealer of Marcus & Millichap represented the seller, a limited liability company.
MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the $4.2 million sale of a two-tenant retail property in Mayfield Heights, an eastern suburb of Cleveland. Located at 5930 Mayfield Road, the 14,557-square-foot property is fully occupied by NTB and Moe’s. CJ Jackson, Craig Fuller, Erin Patton and Scott Wiles of the Patton Wiles Fuller Group at Marcus & Millichap represented the private, Ohio-based seller. The team also secured and represented the buyer, a REIT.
NEW ALBANY, OHIO — AmplifyBio, a biotechnology contract research organization, will invest approximately $150 million for a new 350,000-square-foot facility in New Albany, about 15 miles northeast of Columbus. The company plans to generate 263 new jobs between the new facility and its existing property in West Jefferson. AmplifyBio says it is expanding to meet surging market demand for advanced therapies, including cell and gene therapy products. The new property at 9885 Innovation Campus Way in New Albany will create 132 jobs. A timeline for construction was not provided.
WEST JEFFERSON, OHIO — Stonemont Financial Group and The Pizzuti Cos. are co-developing a 1.1 million-square-foot speculative industrial project in West Jefferson, about 18 miles west of Columbus. Stonemont will acquire the facility upon completion, which is scheduled for the end of this summer. Named West Jeff One, the Class A project sits directly off I-70. The development features 209 car parking spaces, 110 trailer parking spaces and a clear height of up to 40 feet. The project marks Atlanta-based Stonemont’s first in the Columbus area.
CINCINNATI — SRS Real Estate Partners has brokered the sale of a 93,000-square-foot industrial facility occupied by Frisch’s Commissary Kitchen in Cincinnati for $10.3 million. Located at 3011 Stanton Ave., the property also includes an onsite research and development department that is utilized for the restaurant chain’s brand innovation. There are more than 13 years remaining on the triple net lease. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southeast-based family partnership. Jeff Bracco of The Kase Group represented the buyer, a partnership based in the San Francisco Bay area. Frisch’s operates more than 177 restaurants.
CLEVELAND — Industrial Commercial Properties (ICP) has acquired a 235,000-square-foot Class A office building in downtown Cleveland for an undisclosed price. Built by The Plain Dealer Publishing Co. in 2001 for its newspaper staff, the property is located at 1801 Superior Ave. within the city’s Superior Arts District. The building has been marketed for multi-tenant use in more recent years. Rob Roe of JLL represented the seller, Advance Ohio, an affiliate of The Plain Dealer Publishing Co. ICP has been diversifying its portfolio over the last few years to include office, retail and mixed-use.
NEW ALBANY, OHIO — Minneapolis-based healthcare real estate firm Davis has sold New Albany Medical Building II on the Mount Carmel Surgical Hospital campus for $27.7 million. The 59,233-square-foot medical office building is located in the Columbus suburb of New Albany. Davis acquired the asset in late 2019. The building is now 95 percent leased to tenants such as New Albany Surgery Center, OrthoNeuro, 161 Dental Studio, Ohio Skin, Capitol Pain and Stephen Webster Endodontics. Milwaukee-based Physicians Realty Trust was the buyer.
