WESTLAKE, OHIO — DiFranco Commercial Real Estate has brokered the sale of 2035 Crocker Road in Westlake, about 17 miles west of downtown Cleveland. The sales price was not disclosed. The 34,017-square-foot office and retail complex was 94 percent occupied at the time of listing. The building is situated directly across from the lifestyle center Crocker Park. Michael DiFranco of DiFranco brokered the sale. Buyer and seller information was not provided.
HAMILTON, OHIO — Preston Hollow Capital has completed a $38 million tax-exempt bond financing on behalf of the city of Hamilton, which is located 20 miles north of Cincinnati. The bonds will be used to support the redevelopment of the former Champion Paper Mill into a 20-acre sports and entertainment complex. The project will consist of a 650,000-square-foot sports complex and a 360,000-square-foot hotel, which will include convention, retail and commercial space in addition to the 235 hotel rooms. The Hamilton Community Authority issued the bonds, which were placed with Dallas-based Preston Hollow. Piper Sandler served as underwriter on the financing. Squire Patton Boggs LLP served as bond counsel and Bradley Payne Advisors LLC served as financial advisor.
TWINSBURG TOWNSHIP, OHIO — NAI Pleasant Valley has arranged the sale of 1550 Enterprise Parkway in Twinsburg Township, about 28 miles southeast of Cleveland. The sales price was not disclosed. The industrial building totals 31,480 square feet. Jeffrey Calig and David Hexter of NAI Pleasant Valley brokered the transaction. Innovation Food Service, a wholesale producer of contract meals for schools and senior programs, purchased the property from an undisclosed seller.
LANCASTER, OHIO — Monmouth Real Estate Investment Corp. has acquired a 153,000-square-foot industrial building in Lancaster within metro Columbus for $17.9 million. The property is net leased for 10 years to Magna Seating of America Inc., a division of Magna International. The building sits on 24.5 acres at 747 Mill Park Drive. The seller was not disclosed.
COLUMBUS, OHIO — Washington Prime Group Inc. (NYSE: WPG) has temporarily closed its enclosed retail assets that feature an indoor common area in order to help contain the spread of coronavirus. The measure took effect on Monday and will end on March 29 or at a date in compliance with applicable federal, local or state mandates. In the Midwest, these affected assets include Lincolnwood Town Center and Northwoods Mall in Illinois; Markland Mall and Muncie Mall in Indiana; Lindale Mall and Southern Hills Mall in Iowa; Maplewood Mall and Northtown Mall in Minnesota; and Dayton Mall, Great Lakes Mall, Indian Mound Mall, Lima Mall, New Towne Mall, Polaris Fashion Place, Southern Park Mall and The Mall at Fairfield Commons in Ohio. Exceptions for enclosed centers include exterior-facing restaurants with carryout and delivery services and other tenants that have exterior-facing entrances and may remain open for offering essential goods. In addition, Washington Prime anticipates that a portion of its open-air centers, which represent approximately 40 percent of total net operating income, will remain open to continue offering essential goods and services to the extent permitted by law. The company has also offered to applicable governmental agencies all of its open-air and …
COLUMBUS, OHIO — Woda Cooper Cos. Inc. has unveiled plans to create an interim rental assistance fund and waive late rent fees for residents whose jobs are directly impacted by the coronavirus pandemic. The company has also halted celebrations commemorating its 30th anniversary later this year to focus on helping residents navigate the financial impacts of the pandemic. As part of the announcement, Woda Cooper will waive all late fees for rent due April 1 for any resident who has been laid off or furloughed. In addition, the company will establish an interim rental assistance fund of $250,000 to assist residents who have been laid off or furloughed, and ask vendors, lenders and investors to help financially in the effort. Woda Cooper will match the first $250,000 of contributions received and add those funds to the rental assistance fund. Columbus-based Woda Cooper owns and operates more than 300 affordable housing communities in 15 states.
CINCINNATI — Halo Communications and KnowledgeWorks Foundation have signed new leases at 312 Plum Street, a 231,000-square-foot office building in downtown Cincinnati. Rubenstein Partners LP and Strategic Capital Partners LLC own the Class A property. Halo Communications, a healthcare technology and communications provider, has leased 11,902 square feet on a five-year basis. Halo is relocating from its previous Cincinnati office at 1 W. 4th St. KnowledgeWorks Foundation, a nonprofit education organization, has leased 12,837 square feet for 10 years. The organization is relocating from the same building as Halo. Nick Greiwe, Travis Likes, Chris Carey, Scott Yards and Kate Myers of CBRE represented ownership in the lease negotiations. Chris Vollmer Jr. of CBRE represented Halo, while Peter Snow and Rose Ferrugia of Cushman & Wakefield represented KnowledgeWorks.
COLUMBUS, OHIO — Global design consultancy Fitch has relocated from the Brewery District to the Arena District within Columbus. The company now occupies 7,637 square feet at 191 W. Nationwide Blvd. The agency says it hopes to attract new talent, create a better workspace for employees and have increased exposure and visibility with clients. Kirk Smith of CBRE represented Fitch in securing its new studio, which features two floors, standing desks and an open area for collaboration.
WESTERVILLE, OHIO — Arch Street Capital Advisors and VEREIT (NYSE: VER) have acquired DHL Supply Chain’s North American headquarters in Westerville, a northeastern suburb of Columbus. The purchase price was undisclosed. The newly completed, build-to-suit office building spans 145,000 square feet and is located within Westar Place Business Park. The acquisition is part of Arch Street and VEREIT’s partnership focused on the acquisition of long-term leased, single-tenant office assets.
CINCINNATI — Time Equities Inc. has acquired 302 West Third in Cincinnati for an undisclosed price. The nine-story, 177,624-square-foot office building was originally built in 1915 and renovated in 2001 and 2016. The loft-style property features a conference center and complimentary morning coffee for all tenants, some of which include Al Neyer, Baxter Hodell Donnelly Preston Inc., Immedion and Grey Advertising. Max Pastor and Brian Soto of TEI led the acquisition on behalf of the organization. Michael Sullivan of Cushman & Wakefield represented the seller, an affiliate of HighBrook Investors.
