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.
Cleveland — KeyBank Real Estate Capital (KBREC) has provided $51.6 million in acquisition financing to First National Realty Partners for three retail centers in Ohio, Oklahoma and Pennsylvania. Acquisitions include Southland Crossings, a 245,678-square-foot center in the eastern Ohio city of Boardman that is anchored by Giant Eagle, Michaels, Ross Dress for Less and PetSmart; Summit Square, a 166,552-square-foot property in Tulsa, Oklahoma, that is anchored by Reasor’s Foods, American Freight and Tuesday Morning; and The Village at Pittsburgh Mills, a 161,079-square-foot center in Tarentum, Pennsylvania, that is anchored by …
Cincinnati — Cooper Commercial Investment Group has brokered the sale of Meadows Plaza in Cincinnati for an undisclosed price. The 11,746-square-foot retail center was fully leased at the time of sale to tenants such as Harper’s Point Eye Associates, Allstate Insurance, Reliable Staffing and AnyLabTestNow. Dan Cooper of Cooper Group represented the seller, a metro Cincinnati-based private investor. A West Coast-based buyer purchased the property.
Boardman, Ohio — First National Realty Partners has acquired Southland Crossings, a 245,678-square-foot grocery-anchored shopping center located at 1150-1300 Doral Drive in the Youngstown suburb of Boardman. Southland Crossings was 91 percent occupied at the time of sale by tenants including a 77,592-square-foot Giant Eagle Supermarket, Ross Dress for Less, PetSmart, DSW and Michaels.
Grove City, Ohio — JLL Capital Markets has arranged the $17.7 million sale of Derby Square, a 125,250-square-foot neighborhood shopping center in Grove City, about 10 miles from Columbus. Amy Sands, Clinton Mitchell, Michael Nieder and Bill Poffenberger of JLL represented the seller, a joint venture between Madison International Realty and SITE Centers Corp. A private buyer based in the Midwest acquired the asset. Derby Square was 99 percent leased at the time of sale to tenants including Giant Eagle, Once Upon a Child, Plato’s Closet, Novacare Rehabilitation, Salon Lofts, …
Medina, Ohio — Nassimi Realty has acquired Medina Grande Shops, a 150,288-square-foot shopping center located roughly 30 miles outside Cleveland in Medina. Tenants at the property include Ashley HomeStore, PetSmart, Jo-Ann Stores, FedEx Kinko and Dental One. CBRE represented the undisclosed seller in the transaction.
Cincinnati and Union, N.J. — Cincinnati-based The Kroger Co. and Union, New Jersey-based Bed Bath & Beyond Inc. have unveiled plans for a collaboration to directly offer Kroger customers the home and baby products carried by Bed Bath & Beyond. The products will be available on Kroger’s website as well as a small-scale, physical store pilot program at select Kroger stores beginning in 2022. The products will include bedding, storage, baby furniture and baby gear from both Bed Bath & Beyond and buybuy Baby.