OHIO — KeyBank Real Estate Capital has provided a $36.3 million FHA 232/223(f) loan for the acquisition of a four-property skilled nursing portfolio in Ohio. Built between 1961 and 1984, the properties contain a total of 442 beds. Property names were not disclosed. John Randolph, Henry Alonso and Brandon Taseff of KeyBank originated the loan on behalf of the borrower, Foundations Health Solutions. The loan proceeds were used to pay down part of an existing $87.5 million bridge loan that KeyBank previously provided the borrower for the acquisition of nine skilled nursing facilities.
CLEVELAND — Arcapita and Weston have acquired a seven-property industrial portfolio spanning 655,000 square feet in Cleveland. The purchase price was not disclosed. Logistics, technology and assembly space tenants occupy the properties. Weston will serve as the leasing and managing agent.
JOHNSTOWN, OHIO — Alterra Real Estate Advisors has purchased Johnstown Village Square for $3 million. The 82,946-square-foot shopping center is located at 633-759 W. Coshocton St. in Johnstown, about 25 miles northeast of Columbus. The property sits on 10.7 acres and is currently 67 percent occupied. Tenants include Tractor Supply, Goodwill, Dollar Tree and H&R Block. Alterra plans to make improvements to the property. The firm will lease and manage the property.
CHARDON, OHIO — Montecito Medical Real Estate has acquired Chardon Surgery Center in Chardon, about 30 miles northeast of downtown Cleveland. The purchase price was not disclosed. Built in 1998, the nearly 24,000-square-foot medical office and surgery center features three operating rooms, a laser surgery center and a newly built MRI center. Precision Orthopedic Specialties and Kellis Eye Center jointly own the ambulatory center, which occupies one-third of the overall space in the building. The transaction marks Montecito’s 19th acquisition this year.
AKRON, OHIO — Off-price department store Ross Dress for Less has signed a 25,200-square-foot lease to open its first store in Ohio. The retailer will occupy space within The Plaza at Chapel Hill shopping center. The company expects the store to open in summer 2019. The Plaza at Chapel Hill is a 456,055-square-foot shopping center anchored by Giant Eagle. Other tenants include Dick’s Sporting Goods, Shoe Carnival, Great Clips, Ideal Image and El Papas Mexican Restaurant. ShopOne Centers REIT Inc. is the property landlord. California-based Ross operates more than 1,600 stores in 37 states. The retailer sells women’s, men’s and kid’s apparel, as well as shoes and home décor.
GAHANNA, OHIO — PEBB Enterprises has purchased Hunter’s Ridge, a 93,743-square-foot shopping center in Gahanna, an eastern suburb of Columbus. The purchase price was not disclosed. The property is located at the intersection of South Hamilton and Morrison roads. Kroger and Planet Fitness anchor the center. Other tenants include restaurants, a beauty salon, dance studio and medical office. PEBB now owns and operates four shopping centers in Ohio.
BLUE ASH, OHIO — Colliers International has brokered the $2.9 million sale of the Corporate Centre of Blue Ash, a 57,722-square-foot flex office building in suburban Cincinnati. Built in 1990, the property is located at 11101 Kenwood Road. Tenants include Fastsigns, Handyman Connection, Ohio State Auditor, Parallel Technologies Inc., Sellyourmac.com, Sheppard Insurance and Financial and IT support company 4bis.com. Steve Timmel, Jeff Johnston, Chris Prosser, Will Roberts and Matt Smyth of Colliers brokered the transaction. Midwest Properties Corp. purchased the asset from LNR Partners.
CLEVELAND — Zamir Equities LLC has acquired 1111 Superior Avenue, a 559,299-square-foot office tower in downtown Cleveland. While the purchase price is not available, The Plain Dealer reports that Zamir took out a $46 million mortgage on the property. The property is positioned along the city’s main thoroughfare and overlooks Lake Erie. The 28-story tower was renovated in 2014. Amenities include a conference facility, fitness facility, yoga room and David’s Deli. Anchored by the Cleveland Metropolitan School District, the property is 83.4 percent leased to tenants such as Asurint and MetLife Services & Solutions. Jaime Fink, Jeffrey Bramson, John Merrill, Bryan Rosenberg and Patrick Shields of HFF represented the seller, American Landmark Properties Corp. The team also procured the buyer.
CANTON, OHIO — Romans Properties has brokered the sale of a 30,000-square-foot data center in Canton for $9.3 million. The property, located at 4726 Hills and Dales Road, is fully leased to Secure Data 365. Chriss Orr of Romans represented the buyer, an institutional client. The seller was not disclosed.
Columbus is a city on the rise. While that’s not exactly a new development, the fact that the arc of commercial development continues to bend up in Ohio’s capital city is noteworthy — and the pace of growth is impressive, to say the least. Columbus is the gateway market for the state of Ohio, with an impressive civic and economic resume. The counties making up the greater Columbus region have not only added approximately 160,000 jobs since 2010, they have brought in more than $8 billion in capital investments during that time. Columbus is home to The Ohio State University (OSU), one of the largest and most influential public universities in the nation; a long and expanding list of headquarters of national brands and businesses; and Columbus boasts a combination of arts, culture and commercial creativity that has led some to refer to it as the “Austin of the Midwest.” Downtown’s Arena District, home to the city’s professional hockey team the Columbus Blue Jackets, is the standard bearer for large-scale urban infill projects. The new Grandview Yard development brought additional mixed-use horsepower to the city. Retail expansions Easton Town Center is the major retail destination in Columbus, located in the …