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Marcus & Millichap Brokers $17.1M Sale of Net Leased Property Near Cleveland

Walmart has seven years remaining on its 20-year lease.

MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the $17.1 million sale of a retail building triple-net leased to Walmart in Mayfield Heights, located about 20 miles east of Cleveland. Walmart has seven years remaining on its 20-year lease at the building constructed in 2002. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Cleveland-based investor. The trio also procured the buyer, a Midwest-based investor in a 1031 exchange.

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