COLUMBUS, OHIO — The Columbus Metropolitan Housing Authority (CMHA) has acquired Copperleaf Apartments, a 108-unit affordable housing multifamily development in Columbus for $8.1 million. Built in 1989, the property sits on eight acres located off Sawmill Road on the city’s Northwest Side. The seller was a partnership of companies headed by local developers Don Kelley and Robert Weiler. Columbus Housing Enterprise (CHE), a newly formed nonprofit, has entered into a 75-year lease to operate the community on behalf of CMHA, ensuring the apartment complex will remain affordable for lower-wage-earning families, senior citizens and people with disabilities for the long run. According to The Columbus Dispatch, the nonprofit will target prospective renters making 80 percent or less of area median income, which is $52,500 for one person and $74,950 for a four-person household. Data from the Affordable Housing Alliance of Central Ohio (AHACO) shows only 29 affordable housing units are available for every 100 extremely low-income households in the Columbus and Franklin County area. AHACO estimates 54,000 low- and moderate-income households in Franklin County pay more than half their income toward housing costs. Central Ohio also faces a deficit of 11,000 to 14,000 new housing units every year to support a healthy housing …
EATON, OHIO — Marcus & Millichap has brokered the sale of Eaton Center, a 130,483-square-foot retail property located about 25 miles west of Dayton in Eaton. Kroger has anchored the property for 30 years. Additional tenants include retailers such as Tactor Supply and Autozone, both of which have occupied space at the center for 25 years, and several restaurants. The property was approximately 70 percent occupied at the time of sale. The sale was brokered by investment sales team Patton-Wiles-Fuller Group of Marcus & Millichap’s Columbus office, including First Vice President CJ Jackson and Senior Managing Director Erin Patton. Senior Managing Directors Scott Wiles and Craig Fuller of Marcus & Millichap’s Cleveland office marketed the property on behalf of the seller, a Cincinnati-based private ownership group. Patton-Wiles-Fuller Group also procured the out-of-state fund that purchased the property.
DAYTON, OHIO — Versal has arranged the sale of Storage Sense, a 561-unit self-storage property located in Dayton. Originally built as a single-tenant retail center, the facility comprises 65,495 square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Delaware-based Cobblestone Capital. The team also procured the buyer, Nevada-based Amerco Real Estate Co. The sales price was not disclosed.
PAINESVILLE, OHIO — In a sale-leaseback transaction, DWG Capital Partners Inc. has acquired a 68,650-square-foot industrial facility in the Cleveland suburb of Painesville. The purchase price was undisclosed. T&T Machine Inc., a specialized manufacturer of machine parts for the healthcare, engineering, automotive, food & beverage and military sectors, was the seller. Built in 1999, the property is located at 892 Callendar Blvd. within the Blackbrook Road Industrial Park. Mitchell Hoffman of Raven Oak represented the seller. Dugan Kelley of Kelley Clarke PC and Mark Atkins of Reafco represented DWG Capital Partners, which is led by Judd Dunning.
ASHVILLE, OHIO — Brooks Running has signed a 598,754-square-foot industrial lease to occupy an entire building at 10302 Transport St. within the Rickenbacker Logistics Park in Ashville, about five miles south of Columbus. The Seattle-based company, known for its running shoes, will relocate from a nearby facility in the second quarter of next year. The property features a clear height of 40 feet, 18 docks, 60 drive-in doors and parking for 117 trailers. The facility can be expanded up to 1 million square feet. Jim Hazard and Brad Struck of Cresa along with Michael Cantor of Allegro represented the tenant. Dan Wendorf and Brian Marsh of JLL represented the landlord, CT Investors. Rickenbacker Logistics Park spans 382 acres and 5 million square feet.
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 …
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.
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.
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.
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. …