SHARONVILLE, OHIO — Marcus & Millichap has brokered the $5.2 million sale of a 75-room Holiday Inn Express & Suites hotel in Sharonville near Cincinnati. The property is located at 11160 Dowlin Drive. Andrew Bankhurst and Alexandre Duong of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, a limited liability company.
COLUMBUS, OHIO — NKF Multifamily Capital Markets has arranged the sale of a three-property multifamily portfolio comprising 550 units in Columbus for $43.6 million. The portfolio consists of Abbington Village, Ashley Village and Chatham Village. Each was built in 1987 and is situated in the southeast portion of the city. George Skaff of NKF arranged the sale on behalf of the buyer, AndMark Investment Fund. Purvesh Gosalia of NKF arranged $34.8 million in fixed-rate acquisition financing through Freddie Mac. AndMark plans to make improvements to the properties.
COLUMBUS, OHIO — Three new retailers have opened at Easton Town Center in Columbus, including Brandy Melville, Peloton and 7 For All Mankind. Brandy Melville is an Italian clothing and accessories brand geared toward teenage girls and young women. The brand has locations in 12 states. Peloton is an indoor cycling company with over 80 showrooms across the United States, United Kingdom and Canada. Customers can try out the bike and mobile classes firsthand. Los Angeles-based 7 For All Mankind is a denim retailer with more than 100 retail locations in North America, Europe, Asia and the Middle East. Easton Town Center, developed by The Georgetown Co., L Brands and Steiner + Associates, is a 1,300-acre mixed-use development for shopping, dining and entertainment. It is undergoing a $500 million expansion set to open late this year and early 2020.
CINCINNATI — A partnership between Konover South LLC, Zucker Investment Group and Rob Truett of Truett Realty Group has acquired a 3,651-square-foot retail space in Cincinnati’s Hyde Park for $1.4 million. The retail space, occupied by Lululemon, anchors the six-story Michigan Terrace condominium property. It is situated at 3500 Michigan Ave. Aaron Baum and Preet Sabharwal of SAB Capital represented the undisclosed seller. KS Lending Corp., a Konover South company, provided a $920,000 loan for the acquisition.
COLUMBUS, OHIO — Ready Capital has provided a $19.3 million loan for the acquisition, renovation and stabilization of a multifamily property within an Opportunity Zone in the North Rickenbacker submarket of Columbus. The Class B community spans 419,000 square feet and includes 376 units. Upon acquisition, the undisclosed borrower plans to upgrade all units and common areas. The nonrecourse, floating-rate loan features a 48-month term and a loan-to-cost ratio of 75 percent.
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.