Ohio

Westcore Properties Sells Historic Cleveland Property for $6M

by Danielle Everson February 5, 2015

CLEVELAND — Westcore Proprieties has sold a historic, Class C office building in downtown Cleveland for $6 million to Millennia Cos., an apartment developer and property manager. The 11-story, 160,000-square-foot Garfield Building, a masonry and steel-frame building, is located at 1965 E. Sixth St., on the corner of Euclid Avenue and East Sixth Street. Originally built in 1893, the building is the former home of National City/ PNC Bank. Westcore Properties purchased the property in 2008. Millennia Cos. plans to develop the building into multifamily rental housing. Eliot Kijewski and Rico Pietro with CRESCO Real Estate, a member of the Cushman & Wakefield Alliance, represented Westcore Proprieties in the transaction. Allegro Reality represented Millennia Cos.

February 5, 2015

Midwest Ohio Retail

M&M Brokers $10.75M Sale of 99,380 SF Kohl’s Department Store in Ohio

by Danielle Everson February 4, 2015

WESTERVILLE, OHIO — Marcus & Millichap has brokered the $10.75 million sale of a 99,380-square-foot Kohl’s department store in Westerville. The triple-net-leased asset is located off I-270 in a shopping plaza with an Office Max, a Marc’s discount drugstore and a grocery store. Other nearby retailers include Walmart, Kroger and Tuesday Morning. SPMC Urban Properties purchased the property in a 1031-tax-deferred exchange. Dean Zang of Marcus & Millichap’s Washington D.C. office and Craig Fuller of the firm’s Cleveland office represented the buyer. Zang, Fuller and Scott Wiles, of the firm’s Cleveland office, along with Erin Patton of the firm’s Columbus office, represented the seller, Garrison Central II LLC.

February 4, 2015

Midwest Ohio Retail

IKEA Plans to Open Columbus Store in Summer 2017

by Danielle Everson January 29, 2015

COLUMBUS — IKEA plans to open a 354,000-square-foot store in Columbus in the summer of 2017. The proposed store and its 1,200 parking spaces would be built on 33 acres at the Polaris Centers of Commerce development, approximately 15 miles north of downtown Columbus. The property is located at the northeastern corner of I-71 and Gemini Place. IKEA Columbus will feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area and a 450-seat restaurant. During the construction phase, more than 500 jobs will be created and approximately 300 employees are expected to work at the new store once it opens.

January 29, 2015

Industrial Midwest Ohio

Meridian to Build 303,888 SF Distribution Facility in Twinsburg, Ohio

by Danielle Everson January 28, 2015

TWINSBURG, OHIO — Developer Scannell Properties has selected Meridian Design Build to provide design-build construction services for a 303,888-square-foot package and sortation distribution center in Twinsburg. The new facility will be located at CornerStone Business Park, with access to I-480 and I-271. The building will include 99 loading docks, 236 interior van-loading positions, 509 exterior trailer stalls and 15,434 square feet of office/administrative space. Additional construction will include a freestanding 5,180-square-foot maintenance garage as well as a 3,135-square-foot gateway building, which will serve as a secure entry point into the facility. The architect is Precept Design LLC. Weber Engineering Services will serve as the civil engineer for the project.

January 28, 2015

Healthcare Midwest Ohio

Equity Inc. to Build 8,000 SF Medical Office Building in Prairie Township, Ohio

by Danielle Everson January 28, 2015

PRAIRIE TOWNSHIP, OHIO — Equity Inc. will build a new 8,000-square-foot, freestanding medical office building in Prairie Township for Liberty Dialysis, an affiliate of Fresenius Medical Care. Construction on the new facility, located at 4500 W. Broad St., is scheduled to begin in April. Liberty Dialysis is an affiliated company of Fresenius Medical Care, developing, owning and operating dialysis clinics throughout the U.S. Fresenius Medical Care produces dialysis equipment and operates a network of more than 2,150 dialysis facilities in North America.

January 28, 2015

Midwest Ohio Retail

M&M Arranges $2.1M Sale of 4,749 SF Retail Property in Hilliard, Ohio

by Danielle Everson January 27, 2015

HILLIARD, OHIO — Marcus & Millichap has arranged the $2.1 million sale of George’s Corner IV, a 4,749-square-foot retail property in Hilliard, approximately 13 miles northwest of Columbus. George’s Corner IV is located at 1840 Hilliard Rome Road. The two-tenant center features Visionworks, an eyewear retailer, and Tom + Chee, a Cincinnati-based specialty grilled-cheese restaurant. The center is a renovated former restaurant located on an outparcel to a Target center. A Memphis, Tenn.-based limited liability company purchased the property. John Reehil and Arthur Kaplan of Marcus & Millichap’s Columbus office represented the seller, a limited liability company.

January 27, 2015

Hospitality Midwest Ohio

Value Place Opens New Hotel in Urbancrest, Ohio

by Danielle Everson January 23, 2015

URBANCREST, OHIO — Value Place, an extended-stay hotel brand, has opened a newly constructed hotel in Urbancrest, Ohio. Value Place partnered with VP Columbus LLC to open the new hotel. The hotel is located at 3205 Centerpoint Drive and is within 10 miles of Columbus. The four-story, 124-room hotel features laundry facilities, high-speed wireless Internet and modified kitchens. The opening of this hotel brings the brand’s hotel count in Ohio to 13, with locations in Dayton, Cincinnati and Cleveland.

January 23, 2015

Illinois Indiana Michigan Midwest Nebraska Ohio

KeyBank Arranges $334.4M Loan for National Assisted Living Portfolio

by Danielle Everson January 21, 2015

CHICAGO — KeyBank Real Estate Capital has arranged a $334.4 million Fannie Mae credit facility for Enlivant, a Chicago-based owner and operator of senior care facilities across the United States. The loan was arranged for 54 assisted living properties in 12 states including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Washington and Wisconsin. The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term. Key’s Healthcare Mortgage Banking Team was led by Carolyn Nazdin and Charlie Shoop and worked in conjunction with Fannie Mae to originate and close the loan in less than 60 days.

January 21, 2015

Midwest Ohio Retail

Mascia Development Buys 30,100 SF Retail Center in Findlay, Ohio

by Danielle Everson January 8, 2015

FINDLAY, OHIO — Mascia Development LLC has purchased Findlay Marketplace, a 30,100-square-foot retail center at 2023 Tiffin Ave. in Findlay. The shopping center is more than 90 percent occupied with tenants such as Armed Forces Career Center, AT&T, Penn Station Subs and Pet Supplies Plus. Mascia Development raised more than $1.5 million from crowdfunding, using the recently passed Jumpstart Our Business Startups (JOBS) Act regulations, for the purchase. The JOBS Act allows companies to raise capital more quickly and cost efficiently, according to Mark Mascia of president and CEO Mascia Development, who was involved in the transaction.

January 8, 2015

Midwest Ohio Retail

Dunham’s Sports Signs 50,500 SF Lease at Massillon Commons in Ohio

by Danielle Everson January 5, 2015

MASSILLON, OHIO — Retail Properties of America Inc. has arranged a 50,500-square-foot retail lease in Massillon, approximately eight miles west of Canton. Dunham’s Sports will occupy the space within Massillon Commons located at SR 172. RPAI and Dunham’s Sports will renovate the space, which previously served as a grocery store. The store is expected to open this fall. The sporting goods store operates more than 200 stores in 19 states.

January 5, 2015

Newer Posts

Older Posts