AKRON, OHIO — Fairfield Advisors has brokered the sale of the Crystal Clinic medical office portfolio in metro Akron for $8 million. The portfolio consists of 26,500 square feet and is utilized for orthopedic services, including surgery, imaging and physical therapy. With over 40 physicians, Crystal Clinic is one of the largest independently owned orthopedic practices in Ohio. Ben Whitney and Greg Trainor of Fairfield represented the seller in the transaction. Buyer and seller information was not provided.
FAIRLAWN, OHIO — Marcus & Millichap has arranged the $7.8 million sale of a Walgreens-occupied property in Fairlawn, a northwest suburb of Akron. The 14,820-square-foot, net-leased building is located at 3009 W. Market St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.
BRECKSVILLE, OHIO — The Sherwin-Williams Co. (NYSE: SHW) has broken ground on its new global research and development (R&D) center in Brecksville, a southern suburb of Cleveland. The 600,000-square-foot facility will support product development, coatings research, color technology and process engineering. Cleveland-based Sherwin-Williams is also building a new global headquarters in downtown Cleveland that will span approximately 1 million square feet. The company plans to invest a minimum of $600 million to build both the headquarters and the R&D facility. Together, the two facilities will house more than 3,500 employees. Sherwin-Williams estimates it will add a minimum of 400 jobs at these properties over time, an increase of 11 percent to the company’s current local workforce. The R&D center is expected to open by the end of 2024.
COLUMBUS, OHIO — Law firm Taft has signed a long-term lease for 50,000 square feet at Huntington Center, a 1 million-square-foot office tower in downtown Columbus. Taft will relocate to the 37-story building in late 2022 and will occupy three floors. Developed by Hines in 1984, Huntington Center is located directly across from Ohio Statehouse, the state capitol building. The property underwent an $18 million renovation in 2019. Collin Wheeler and Brandon Ellis of CBRE represented Hines in the lease transaction. Jeff Carey of JLL represented Taft.
COLUMBUS, OHIO — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail property spanning 118,161 square feet in Columbus for an undisclosed price. The property, located within the Mill Run Square shopping center, is home to Floor & Décor and Arhaus. Eric Wohl and CJ Kiehler of Hanley, in association with ParaSell Inc., represented the seller, an affiliate of Atlanta-based RCG Ventures. Mark Luttner of Luttner Passov Investment Group represented the buyer, an Ohio-based private investor.
COVINGTON, OHIO — Natixis has provided a $53 million loan for the refinancing of River Haus Apartments in Covington, about two miles from downtown Cincinnati. The borrower, Flaherty & Collins, completed development of the 192-unit, Class A multifamily community in 2019. Daniel Geuther and Michael Slovitt of Berkadia arranged the five-year, floating-rate loan, which replaced the initial construction financing.
COLUMBUS, OHIO — Nine new retailers and restaurants are now open at Easton Town Center in Columbus. Levi’s has opened its first NextGen store in the state of Ohio. NextGen stores offer shoppers the opportunity to customize new looks and work directly with in-store stylists. Dr. Martens opened its second retail location in Ohio and its first in Columbus. Customers can shop a wide range of boots, shoes and accessories. Urban Outfitters has opened its only Columbus location. Fay’s Crepes, which serves specialty crepes and waffles, debuted its only Columbus location. Italian restaurant Sono Wood Fired and Vietnamese restaurant Pho Social opened their first locations in Ohio. Boss Gal Beauty Bar has debuted its third central Ohio location. The space features a facial bar and private medical treatment rooms. Grandview Heights, Ohio-based Glenn Avenue Soap Co. opened its second retail location. Lastly, Solich Piano, a fast-growing piano dealer in the Midwest, has opened its only Columbus location, which spans 8,100 square feet. Easton Town Center, co-developed by L Brands, The Georgetown Co. and Steiner + Associates, is home to more than 250 shops, restaurants and entertainment concepts.
CLEVELAND — Kennametal, a supplier of tooling and industrial materials, has leased a 125,000-square-foot warehouse at 18105 Parkway in Cleveland. Christopher Livingston, Jonathan Elson and Brad Totten of Avison Young represented the tenant in the lease transaction. Chelm Properties Inc. is the landlord. Kennametal’s headquarters are in Pittsburgh, but the company has operated in Cleveland for 22 years.
MIAMISBURG, OHIO — CBRE has arranged the $10.8 million sale of a 197,731-square-foot industrial building in Miamisburg, just south of Dayton. Located at 511 Byers Road, the one-story building was constructed in 1986 and is fully leased to four tenants. The property has undergone renovations since 2019, including parking improvements and new exterior paint. Steve Timmell, Will Roberts, Jeff Johnston, Chris Prosser and Doug Whitten of CBRE represented the seller, Industrial Commercial Properties LLC. Heritage Acquisitions LLC was the buyer.
COLUMBUS, OHIO — Center Square, a company specializing in community events and entertainment centers, has leased a 33,000-square-foot warehouse at 225 Neilston St. in the historic Warehouse District of Columbus. The company plans to transform the building into The Kee, a community center with an indoor-outdoor event venue and a restaurant and bar. The landlord, Hackman Capital Partners, owns the majority of the real estate in the Warehouse District. Clayton Davis and Alex Ashworth of JLL represented both the landlord and the tenant in the lease transaction. Center Square plans to program events at the venue such as concerts, comedy shows, fitness classes, art exhibits and farmer’s markets. There will also be an onsite catering option for private parties, weddings and corporate events. The Kee is expected to open in July 2022.