SPRINGFIELD, OHIO — Marcus & Millichap has brokered the sale of Springfield Plaza for an undisclosed price. The 156,630-square-foot shopping center is located at 1510-1608 Upper Valley Pike in Springfield, about 25 miles northeast of Dayton. Dunham’s Sports and Ollie’s Bargain Outlet anchor the property. Other tenants include JoAnn Fabrics, Sherwin-Williams, CosmoProof and The Reserves Network. The center was 70 percent leased at the time of sale. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap marketed the property on behalf of the Illinois-based private seller. The team also procured the buyer, a Maryland-based private investment group.
COLUMBUS, OHIO — PCCP has formed a joint venture with The Pizzuti Cos. to develop a two-building industrial complex in Columbus totaling 539,094 square feet. Known as Rickenbacker West II and III, the speculative project will be situated adjacent to CreekSide Industrial Center. Completion is slated for mid-2020. The 277,692-square-foot Rickenbacker II will be situated on 16.9 acres while the 261,402-square-foot Rickenbacker III will be situated on 22.9 acres. Both facilities will feature a clear height of 32 feet, secure truck courts, LED warehouse lighting and ample parking.
TOLEDO, OHIO — Cooper Commercial Investment Group has brokered the sale of a two-building medical asset anchored by Bon Secours Mercy Health in Toledo for $4.3 million. The property is fully leased. Dan Cooper of Cooper Group represented the seller, a private investment group. Cooper also procured the buyer, a Texas-based medical real estate company. The sales price represents a cap rate of 8.1 percent.
COLUMBUS, OHIO — Makers Social has joined the retail tenant lineup at River & Rich in the East Franklinton neighborhood of Columbus. The arts and crafts cocktail bar will occupy approximately 1,900 square feet. Guests will be able to choose from over 40 different projects to make while enjoying cocktails and local beers. Makers Social expects to open this winter. Casto owns River & Rich, a 230-unit apartment building that opened this summer. Designed with local art in mind, there are several murals within the project, which features 30,000 square feet of retail space. Roy G Biv, a nonprofit art gallery, is the marquee tenant at the property.
CINCINNATI AND COLUMBUS, OHIO — Colliers International has brokered the $35 million sale of the Orange Point Portfolio, a six-property industrial portfolio within the Cincinnati and Columbus markets. The portfolio totals 591,695 square feet and has a combined occupancy level of 93.7 percent. The properties include: 2700-2758 Kemper Road and 2800-2888 Kemper Road in Sharonville; 6900-6918 Fairfield Business Drive in Fairfield; 4514-4548 Cornell Road in Blue Ash; and 7719 Graphics Way and 459 Orange Point Drive in Lewis Center. Boston-based Plymouth REIT purchased the portfolio from Orange Point SWS LLC. Steve Timmel, Jeff Johnston, Chris Prosser, Will Roberts, Matt Smyth and Jonathan Schuen of Colliers brokered the sale.
CLINTONVILLE, OHIO — Casto and its nonprofit partner, Homeport, have unveiled plans to develop Graceland Flats, a workforce housing community in Clintonville near Columbus. Of the property’s 180 units, 50 percent will be designated for renters who earn between 80 and 100 percent of the area median income. Project financing comes from the Federal Housing Administration’s construction loan program and the Affordable Housing Trust for Columbus and Franklin County. Amenities at the property will include a pool, outdoor fireplace and bike storage. A timeline for completion was not disclosed.
YOUNGSTOWN, OHIO — Washington Prime Group Inc. has unveiled plans to develop a four-acre athletic and entertainment venue to be named DeBartolo Commons at Southern Park Mall in Youngstown. The venue will be situated at the site of a former Sears department store. Demolition of the store has commenced. Washington Prime also plans to develop an additional entertainment area adjacent to DeBartolo Commons. Plans call for a 37,000-square-foot indoor golf center and new food and beverage offerings. Southern Park Mall was originally built by Edward J. DeBartolo Corp. in 1970.
CINCINNATI — Kroger Co. is set to open a downtown Cincinnati store on Wednesday, Sept. 25. This is the first downtown store in a half-century for the Cincinnati-based grocer, according to the Cincinnati Business Courier. The new store is located at the corner of Court and Walnut streets, across from the company’s headquarters. The 45,000-square-foot, two-story store will include five restaurants within a food hall. It will be known as Kroger on the Rhine, replacing an existing Kroger store in the Over-the-Rhine district. Besides the Kroger store, the 18-story building comprises a 139-unit apartment complex known as 1010 on the Rhine.
CHICAGO, CINCINNATI AND COLUMBUS, OHIO — Plymouth Industrial REIT Inc. has acquired industrial assets in Chicago, Cincinnati and Columbus for $68.4 million in separate transactions totaling approximately 1.8 million square feet. Plymouth purchased a seven-building Class B portfolio totaling just under 1.1 million square feet in Chicago for $32.2 million. The portfolio is 97 percent leased to 15 tenants. Anchor tenants include Ply Gem Building Products, A-Reliable Auto Parts & Wreckers, Pactiv and Aryzta. Plymouth also purchased a six-building light industrial and flex portfolio in Cincinnati and Columbus totaling 591,695 square feet. The Cincinnati properties are 93 percent leased and consist of four buildings, Enterprise Business Center 1 & 2, Cornell Commerce Center and 6918 Fairfield Business Drive. The two Columbus properties, located on Orange Point Drive and Graphics Way, are fully occupied and total 217,289 square feet. Major tenants include Safelite Auto, Pilot Chemical, Modern Office Methods and Ohio National Life Insurance.
BARBERTON, OHIO — Marcus & Millichap has brokered the sale of Barberton Shopping Center within the Akron metro area for an undisclosed price. Giant Eagle anchors the 105,313-square-foot fully leased shopping center, which is located at the intersection of Robinson Avenue and 5th Street. Giant Eagle occupies 83 percent of the center’s gross leasable area and includes a drive-thru pharmacy, wine and beer selection, bank branch and gas station. Other tenants include Chipotle, Jimmy John’s, Little Caesars, Verizon, Ohio BMV, H&R Block and Best Cuts. Erin Patton, Scott Wiles, Craig Fuller, Joseph French Jr. and C.J. Jackson of Marcus & Millichap marketed the property on behalf of the seller, a New York-based privately held REIT. A Texas-based private company purchased the center.