Monday, January 20, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Ohio

AcquisitionsMidwestOhioRetail

JLL Brokers $17.7M Sale of Derby Square Shopping Center in Grove City, Ohio

by Kristin Harlow

GROVE CITY, OHIO — JLL Capital Markets has brokered the $17.7 million sale of Derby Square in Grove City, a southern suburb of Columbus. Giant Eagle anchors the 125,250-square-foot shopping center, which is 99 percent leased. Additional tenants include Once Upon a Child, Plato’s Closet, Novacare Rehabilitation, Salon Lofts, City Barbeque, Batteries + Bulbs, H&R Block and Allstate Insurance. Derby Square is situated on 12 acres along Stringtown Road. Amy Sands, Clinton Mitchell, Michael Nieder and Bill Poffenberger of JLL represented the seller, a joint venture between Madison International Realty and SITE Centers Corp. A Midwest-based private buyer acquired the asset.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestOhio

Marcus & Millichap Arranges $17M Sale of Industrial Building in Carey, Ohio

by Kristin Harlow

CAREY, OHIO — Marcus & Millichap has arranged the $17 million sale of a 237,155-square-foot industrial building in Carey, about 60 miles south of Toledo. Hanon Systems, a South Korean-based manufacturer of automotive HVAC and cooling systems, fully occupies the facility, which is located at 581 Arrowhead Drive. Joshua Baker, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Patton Wiles Fuller Group represented the seller. The buyer and seller were not provided.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansMidwestOhio

Ready Capital Closes $8M Acquisition Loan for Industrial Property in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Ready Capital has closed an $8 million loan for the acquisition and stabilization of a 196,000-square-foot industrial property in the Miamisburg submarket of Dayton. The buyer plans to address deferred maintenance and increase rents as tenants’ leases expire. The nonrecourse loan features interest-only payments, a floating rate and a four-year term.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestOhioRetail

Carvana-Occupied Facility in Ohio Trades Hands for $6.7M

by Kristin Harlow

WARRENSVILLE, OHIO — A Costa Rica-based private investor has purchased a facility occupied by car sales company Carvana in Warrensville, about 15 miles southeast of Cleveland. The sales price was $6.7 million. Located at 4070 Interchange Corporate Center Road, the 8,408-square-foot property was constructed in 2017. Michael Shover and Matthew Gorman of CBRE represented the buyer. There were 17 years remaining on Carvana’s lease at the time of sale. The seller was undisclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestOhio

Colliers Arranges Sale of 1 MSF Fulfillment Center Leased to Bath & Body Works in Ohio

by Kristin Harlow

COMMERCIAL POINT, OHIO — Colliers has arranged the sale of a 1 million-square-foot e-commerce fulfillment center occupied by Bath & Body Works Inc. in Commercial Point, a southern suburb of Columbus. The sales price was undisclosed. The retailer plans to add 500 employees to its central Ohio workforce to fill online orders at the facility. Located at 514 Exchange Way, the property is the first building within the 875-acre Rickenbacker Exchange at Commercial Point industrial park. Alex Cantu, Jeff Devine, Steve Disse and Michael Linder of Colliers represented the seller, VanTrust Real Estate. The Mid-America Management Corp., an Ohio-based investment firm, was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMidwestMultifamilyOhio

NRP Group Breaks Ground on 180-Unit Affordable Housing Community in Columbus

by Kristin Harlow

COLUMBUS, OHIO — The NRP Group has broken ground on Sinclair Apartments, a 180-unit affordable housing community in Columbus. In partnership with the City of Columbus Housing Division, the transit-oriented development will be developed with tax-credit funding support from the Ohio Housing Finance Agency and Huntington National Bank. Located at 5055 Sinclair Ave., the property will be reserved for Columbus-area residents who earn between 30 and 70 percent of the area median income. The three-building complex will replace Alrosa Villa, a live music venue that closed in 2020. Completion of the project is slated for 2023.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMidwestMultifamilyOhio

Ready Capital Closes $6M Loan for Acquisition of Multifamily Portfolio in Cleveland

by Kristin Harlow

CLEVELAND — Ready Capital has closed a $6 million loan for the acquisition, renovation and stabilization of a 108-unit, four-property multifamily portfolio in the Shaker Heights submarket of Cleveland. The undisclosed borrower plans to implement a capital improvement program to renovate the units, common areas and exteriors of the Class B properties. The nonrecourse loan features a floating rate and a three-year term.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestOhioRetail

Nassimi Realty Acquires Medina Grande Shops in Metro Cleveland

by Kristin Harlow

MEDINA, OHIO — Nassimi Realty has acquired Medina Grande Shops in the Cleveland-area community of Medina for an undisclosed price. The 150,288-square-foot shopping center is located at 4895 Grande Blvd. Tenants at the property include Ashley HomeStore, PetSmart, Jo-Ann Stores, FedEx Kinko and Dental One. CBRE represented the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Columbus Industrial Market Is Going Strong for Eighth Straight Quarter

by Kristin Harlow

Columbus has been the shining star of the industrial real estate market over the last five years, and for the eighth straight quarter, it has more than 5 million square feet under construction. This year is on track for more than 10 million square feet, with half of that already absorbed in the first part of the year.  A question I always get is, “Why Columbus?” The answer (and the sell) is quite simple — location and population. Columbus is a 10-hour drive within 46 percent of the country’s population and manufacturing base. Incentives play a large role in the process as well, which enables developers to be competitive and drives tenants to the markets. Labor is always a factor in site selection, but now more than ever it tops the list as one of the most vital components of the decision-making process of choosing a site. With the Columbus region ranking No. 1 in the Midwest for population, jobs and GDP growth, it’s natural for developers to be highly attracted to the area.  Columbus has three major industrial submarkets: West Jefferson, Rickenbacker and Etna Township. The West Jefferson submarket is home to Amazon, Target, Restoration Hardware and JoAnn Fabric. …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestOhio

KKR Acquires Two Industrial Buildings Totaling 1.1 MSF in Columbus

by Kristin Harlow

COLUMBUS, OHIO — KKR has acquired two industrial buildings within Rickenbacker Logistics Park in Columbus for an undisclosed price. Completed this year, the warehouses total 1.1 million square feet and feature a clear height of 36 feet. Both single-tenant buildings are fully leased. CBRE represented the seller, a joint venture between CT Realty and Walton Street Capital.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts