Oakwood Village, Ohio — The Palomar Group has brokered the $3.3 million sale of Hawthorne Shops in Oakwood Village, a southern suburb of Cleveland. The 50,957-square-foot retail center, built in 1991, is shadow anchored by Sam’s Club. Palomar Group represented the seller, Tabani Group, in the disposition of the property to Z.E.A. Capital Realty Holdings.
Columbus, Ohio — Gucci has opened its first Ohio store at Easton Town Center in Columbus. The boutique spans more than 5,000 square feet and showcases a wide collection of men’s and women’s small leather goods, handbags, luggage, jewelry, watches and eyewear. The Easton Town Center location features LED lighting, which is part of Gucci’s commitment to implement eco-friendly initiatives and energy-efficient technologies in its stores worldwide. Easton Town Center is a shopping, dining and entertainment destination with more than 240 shops, restaurants and entertainment spaces. L Brands, The Georgetown …
Cleveland, Ohio — The Cooper Commercial Investment Group has arranged the $3 million sale of a fully occupied retail center in suburban Cleveland. Further details on the property were undisclosed. Dan Cooper of Cooper Commercial represented the seller, a private Ohio-based investment group, in the disposition of the property to an undisclosed private investment group based in the Midwest.
Mayfield Heights, Ohio — Marcus & Millichap has arranged the $4.2 million sale of a two-tenant retail property in Mayfield Heights, an eastern suburb of Cleveland. Located at 5930 Mayfield Road, the 14,557-square-foot property is fully occupied by NTB and Moe’s. CJ Jackson, Craig Fuller, Erin Patton and Scott Wiles of the Patton Wiles Fuller Group at Marcus & Millichap represented the private, Ohio-based seller. The team also secured and represented the buyer, a REIT.
Wilmington, Ohio — Cleeman Realty Group has arranged the off-market sale of Wilmington Plaza, a 198,085-square-foot retail center in Wilmington, Ohio. An undisclosed buyer represented by Jeremy Scheer and David Kaufman of Cleeman purchased the property for $7.9 million. Kroger anchors the center, which was 83 percent leased at the time of sale. “The buyer was attracted to the strong performing anchor tenant, national tenant lineup and upside potential through the lease-up of 33,000 square feet of vacant space,” says Scheer. The seller was also undisclosed.
Beachwood, Ohio — The Cooper Commercial Investment Group has negotiated the $3.8 million sale of a single-tenant property occupied by P.F. Chang’s in Beachwood, about 19 miles from Cleveland. The restaurant’s lease expires in 2025. Dan Cooper of Cooper Group represented the seller, a private investment group, and procured the all-cash buyer. The property sold for $543 per-square-foot and at approximately 98 percent of the list price.
Sandusky, Ohio — Marcus & Millichap has negotiated the $2.2 million sale of an 11,325-square-foot property net leased to Rite Aid in Sandusky, a city in northern Ohio located along Lake Erie. The property is located at 334 W. Perkins Ave. Rite Aid has roughly six years remaining on its lease. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the Ohio-based private seller and the buyer, a Michigan-based limited liability company, in the transaction.
Springdale, Ohio — MarketSpace Capital and Park Harbor Capital, two private real estate investment and development firms based in Texas, have officially closed on their purchase of Tri-County Mall, an enclosed, 1.3 million-square-foot regional shopping center in the Cincinnati suburb of Springdale. The co-developers plan to transform the mostly vacant mall into a $1 billion redevelopment project housing residences, offices, restaurants, shops, a school, entertainment venues and green space. The redevelopment received unanimous approval from the Springdale City Council about 10 weeks ago. MarketSpace and Park Harbor are set to …
Columbus, Ohio — First National Realty Partners has acquired Consumer Square West in Columbus. The 218,000-square-foot shopping center is situated on 25 acres along Soldano Boulevard. A 65,000-square-foot Kroger store anchors the center. Other tenants include Planet Fitness, Rainbow Apparel, Dollar Tree, Shoe Show, Bargain Hunt, Pet Supplies Plus and Sally Beauty. Scott Wiles of Marcus & Millichap represented the undisclosed seller in the transaction.
Columbus, Ohio — Mid-America Real Estate Corp. has brokered the sale of Market at Stelzer in Columbus. Giant Eagle anchors the 116,707-square-foot shopping center. Other tenants include Subway, Wingstop, WellNow Hometown Urgent Care, El Rodeo Mexican restaurant, The UPS Store and Marco’s Pizza. Joe Girardi and Emily Gadomski of Mid-America, along with Andrew Montooth of Newmark, represented the seller, Continental Real Estate Cos. The property sold to a private buyer.
