SHARONVILLE, OHIO — Workhorse Group, an electric vehicle manufacturer, has signed a 58,720-square-foot lease for both industrial and office space at Park 42 in Sharonville, a northern suburb of Cincinnati. The company is relocating its headquarters from nearby Loveland. Situated on nearly 30 acres, the 286,000-square-foot building is located near I-275, I-75 and I-71. Workhorse Group is expected to move into the new space no later than April of this year. Todd Pease and Tom Fairhurst of JLL represented the building owner, Experimental Holdings. John Schenk Jr. and Chris Vollmer Sr. represented the tenant.
BEDFORD, OHIO — JB Hudco has leased a former Walmart store spanning 197,518 square feet in Bedford, an eastern suburb of Cleveland. The property is located at 22209 Rockside Road. The current owner converted the building into industrial space. Jeffrey Calig and David Hexter of NAI Pleasant Valley represented Texas-based JB Hudco, which provides logistical and order management services to businesses throughout the U.S.
TOLEDO, OHIO — Stan Johnson Co. has brokered the sale of a Home Depot ground lease in Toledo for $12 million. The 141,610-square-foot retail property is located at 1035 W. Alexis Road. Chad Byerly of Stan Johnson represented the seller, a local developer. The California-based buyer completed a 1031 exchange.
FOSTORIA, OHIO — Matthews Real Estate Investment Services has brokered the $14.5 million sale of a 488,000-square-foot industrial property in Fostoria, about 40 miles south of Toledo. Global consumer brand Arm & Hammer occupies the building, which is located at 110 E. Jones Road. Alexander Harrold of Matthews represented the institutional seller. The transaction closed above the final list price.
CINCINNATI — Cooper Commercial Investment Group has brokered the sale of Meadows Plaza in Cincinnati for an undisclosed price. The 11,746-square-foot retail center is fully leased to tenants such as Harper’s Point Eye Associates, Allstate Insurance, Reliable Staffing and AnyLabTestNow. Dan Cooper of Cooper Group represented the seller, a metro Cincinnati-based private investor. A West Coast-based buyer purchased the property for the full price, representing a cap rate of 7.6 percent.
NEW ALBANY, OHIO — Santa Clara, Calif.-based Intel has unveiled plans to invest more than $20 billion to build two new computer chip factories. The campus will be located in New Albany, approximately 18 miles northeast of Columbus. Construction is scheduled to begin at the end of 2022 for the start of production in 2025. The two semiconductor fabrication plants, or “fabs,” will be situated on nearly 1,000 acres in Licking County. The project site can accommodate a total of eight chip factories. At full buildout, the total investment in the site could increase to as much as $100 billion over the next 10 years. The project is the largest single private-sector investment in Ohio’s history, according to Intel. Ohio will be home to Intel’s first new manufacturing site location in 40 years. Additionally, Air Products, Applied Materials, LAM Research and Ultra Clean Technology have announced plans to establish a physical presence in the region to support the buildout of the site, with more companies expected to join the project in the future. “Building this semiconductor mega-site is akin to building a small city, which brings forth a vibrant community of supporting services and suppliers,” says Keyvan Esfarjani, Intel senior …
SPRINGDALE, OHIO — Northmarq has arranged a $6.3 million loan for the acquisition of Executive Plaza III in Springdale, a northern suburb of Cincinnati. The 89,327-square-foot office building is located at 135 Merchant St. Christina Grimme of Northmarq arranged the 25-year loan, which is fully amortized and features a loan-to-value ratio of 80 percent. A local bank provided the loan. The borrower was not disclosed.
STREETSBORO, OHIO — NAI Pleasant Valley has arranged the $8.4 million sale of a 130,257-square-foot industrial building in Streetsboro, a southern suburb of Cleveland. The property sits on 8.5 acres at 675 Mondial Parkway. David Hexter and Jeffrey Calig of NAI Pleasant Valley represented the undisclosed seller. Exeter 675 Mondial LLC was the buyer. The transaction marks the first acquisition in the Northeast Ohio market for the buyer.
CLEVELAND — Legion Capital has sold an 11,185-square-foot retail property leased to Family Dollar in Cleveland. The buyer and sales price were undisclosed. The building is located at 650 Northfield Road. Cale Powers of Trinity Real Estate Investment Services represented Legion, which purchased a different Family Dollar property in New Orleans. Family Dollar operates more than 8,000 stores across the U.S.
HIGHLAND HILLS, OHIO — Matthews Real Estate Investment Services has brokered the sale of a 145,000-square-foot industrial and office building in Highland Hills near Cleveland for $34.2 million. The property, occupied by ABB Inc., is located at 23000 Harvard Road. Chad Kurz of Matthews represented the buyer, a private investor completing a 1031 exchange. Seller information was not provided.