Northbrook, Ill. — Envoy Net Lease Partners has provided a $4.1 million loan for the construction of a single-tenant property located in Ohio. Ralph Cram of Envoy arranged the financing on behalf of the borrower, Caliber Collision.
Mentor, Ohio — Eastern Union has arranged $11 million in financing for the acquisition of two shopping centers located in Mentor, a northeast suburb of Cleveland. Together the properties total 312,866 square feet, with Erie Commons comprising 232,386 square feet and Great Lakes Plaza featuring 80,480 square feet. Marc Tropp of Eastern Union secured the financing through First Bank on behalf of the borrower, America’s Realty LLC. The overall purchase price for the two properties was $14.6 million.
Canal Winchester, Ohio — Marcus & Millichap has negotiated the $5.4 million sale of a 14,560-square-foot retail property occupied by Walgreens in Canal Winchester, a southeast suburb of Columbus. Jesse Limon of Marcus & Millichap represented the seller, a limited liability company, and the buyer, an all-cash REIT.
Austintown, Ohio — The Cooper Commercial Investment Group has arranged the $2.2 million sale of a single-tenant property located in Austintown in Northeast Ohio. Chipotle Mexican Grill occupies the newly developed building on a 10-year, triple net lease. Dan Cooper of Cooper Commercial represented the seller, a private developer. An undisclosed, all-cash buyer purchased the property.
Niles, Ohio — Bass Pro Shops will open a 63,000-square-foot Bass Pro Shops Outpost store in Niles, marking the seventh location in the state for the brand. Scheduled to open at Howland Commons within the Eastwood Mall complex in the second half of this year, the store will feature a custom design with localized nature imagery. Cafaro Co. is the landlord at the property.
N.R. Investments Starts Construction of $300 Million Rockwell District Mixed-Use Redevelopment in Whitehall, Ohio
Whitehall, Ohio — N.R. Investments has started construction of a three-phase, $300 million mixed-use project located at the corner of East Broad Street and North Hamilton Road in the Columbus suburb of Whitehall. The development will be named Rockwell District, according to reports by Columbus Business First. The 50-acre project, which is being developed in partnership with the Central Ohio Community Improvement Corp. and the City of Whitehall, is set to include 1,000 residential units, 250,000 square feet of Class A office space and 75,000 square feet of retail and …
Cincinnati — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the property traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s …
Kent, Ohio — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a single-tenant, ground-leased property occupied by Taco Bell in Kent. Constructed in 2019, the net-leased building serves as an outparcel to Maplecrest, a shopping center anchored by Meijer and Menard’s. Dan Cooper of Cooper Group represented the seller, a private investment group based in Northeast Ohio. The undisclosed buyer purchased the property at 99 percent of its list price, which represented a cap rate of 4.52 percent and $897 per-square-foot.
Columbus, Ohio — JRW Realty has negotiated the sale of Walnut Creek Plaza in Columbus for an undisclosed price. An 86,608-square-foot Giant Eagle grocery store anchors the 115,777-square-foot shopping center, which features 13 additional retail and healthcare tenants. Nathan Webb of JRW Realty sourced the buyer, one of JRW’s exclusive institutional buyers. CBRE represented the undisclosed seller.
Columbus, Ohio — Bath & Body Works Inc. has announced that Heather Hollander will assume the role of vice president of investor relations with the company. Hollander most recently acted as head of investor relations at Nordstrom and has previously worked with brands including Lowe’s, Bloomin’ Brands and Burger King. Reporting to Wendy Arlin, chief financial officer, Hollander will be responsible for engagement with shareholders, investors and the analyst community.