Friday, January 10, 2025
Read the Digital Magazines
Subscribe

Ohio

Retail Center in Cincinnati
Investment salesNewsOhio

Stan Johnson Co. Arranges $3 Million Sale of 25,600-Square-Foot Retail Center in Cincinnati

by Julia Sanders

Cincinnati — Stan Johnson Co. has arranged the $3 million sale of a 25,600-square-foot retail center located at 7074 Harrison Ave. in Cincinnati. The property was 94 percent leased at the time of sale to seven tenants. Constructed in 2006, the two-story building sits on 2.3 acres. Stan Johnson Company’s Patrick Metz represented the private California-based seller. MAGNA Properties, an Ohio-based individual investor, purchased the property in a 1031 exchange. The sale reflects a 9.1 percent cap rate.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsOhioRetailers

L Brands Reports Holiday Same-Store Sales Growth of 5 Percent

by Alex Tostado

Columbus, Ohio — L Brands Inc., the parent company of retailers Victoria’s Secret and Bath & Body Works, reported that its same-store sales during the holiday period grew 5 percent, compared with a 3 percent drop one year ago. Shoppers purchased more loungewear, hand soap and candles ahead of the new year. Comparable sales at Bath & Body Works increased 17 percent for the nine-week period that ended Jan. 2. Columbus-based L Brands expects to report its fourth-quarter earnings Feb. 24.

Continue Reading
0 FacebookTwitterLinkedinEmail
Grocery-anchoredInvestment salesNewsOhioRetailers

First National Realty Partners Acquires Whole Foods-Anchored Center in Akron, Ohio

by Alex Tostado

Akron, Ohio — First National Realty Partners (FNRP) has acquired West Market Street Station in Akron. The Whole Foods Market-anchored shopping center is located at 1745 W. Market St. It spans 54,232 square feet and opened in September 2017. Other tenants at the fully leased center include lululemon, PetPeople, Orangetheory Fitness, Moe’s Southwest Grill, Great Clips and Salon Lofts. The seller, S.J. Collins Enterprises, sold the asset for an undisclosed price. This is the first Whole Foods within FNRP’s shopping center portfolio. Fain Hicks, Margaret Jones, Lane Breedlove, Evan Halkias …

Continue Reading
0 FacebookTwitterLinkedinEmail
Geauga Lake District
DevelopmentNewsOhio

ICP Purchases 377-Acre Former Amusement Park in Northeast Ohio for Mixed-Use Redevelopment

by Katie Sloan

Bainbridge Township and Aurora, Ohio — Industrial Commercial Properties (ICP) has purchased a 377-acre tract that formerly housed the Geauga Lake Amusement Park and Sea World Ohio. Cedar Fair sold the asset for an undisclosed price. Located in Bainbridge Township and Aurora approximately 25 miles southeast of downtown Cleveland, the developer plans to rebrand the property as The Geauga Lake District.  Elements of the new design will pay homage to the history of the site and the former amusement park, which operated from 1887 to 2007. The master-planned development will include retail, …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNewsOhioRestaurants

LemonShark Poké & Makai Grill to Open at Easton Town Center This Fall

by Alex Tostado

Columbus, Ohio — LemonShark Poké & Makai Grill is opening its first Ohio restaurant at Easton Town Center in Columbus. The Hawaiian-themed establishment, which offers sushi, hibachi-style grilled meats and seafood, is scheduled to open in late fall. A staple of Hawaiian cuisine, Poké incorporates variations of marinated seafood typically over sticky rice with vegetables and sauces. Guests at the restaurant will also enjoy a bar and island-themed drinks. Developed by The Georgetown Co., L Brands and Steiner + Associates, Easton Town Center is a component of the larger Easton, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsGrocery-anchoredNewsOhioRetailers

Kroger’s Digital Sales Surge 127 Percent in Second Quarter

by Alex Tostado

Cincinnati — The Kroger Co. (NYSE: KR) has reported that its digital sales surged 127 percent in the second quarter, which ended Aug. 15. Consumers have been buying more groceries online as a result of the coronavirus. “Investments made to expand the company’s digital ecosystem are resonating well with customers,” says Rodney McMullen, chairman and CEO. In addition, the Cincinnati-based grocer’s operating profit of $820 million was up 43 percent compared with the same period a year ago. Total company sales were $30.5 billion in the second quarter, compared with …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsOhioRetailers

Gosula Realty Acquires 100,999-Square-Foot Shopping Center in Delaware, Ohio

by Alex Tostado

Delaware, Ohio — Gosula Realty Ltd. has acquired Glennwood Commons in Delaware, about 30 miles north of Columbus. The purchase price was undisclosed. Tenants at the 100,999-square-foot center include OfficeMax, Dollar Tree and Pet Supplies Plus. CBRE’s National Retail Partners Midwest team represented both Gosula and the seller, Principal Real Estate Investors.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsOhioRetailers

Big Lots Store Sales Increase 31.3 Percent Year Over Year

by Alex Tostado

Columbus, Ohio — Big Lots Inc. (NYSE: BIG) has reported net sales of $1.6 billion in its fiscal second quarter, which ended Aug. 1. This figure is 31.3 percent higher than the second quarter of 2019, which totaled $1.2 billion. Bruce Thorn, president and CEO of the Columbus-based retailer, says the “record-breaking results” were driven by both in-store and online activity. Big Lots also reported net income of $452 million, which includes $341.9 million in earnings due to the sale-leasebacks of several distribution centers. Big Lots, which sells toys, furniture, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesMichiganNewsOhioRetailers

Stan Johnson Co. Brokers Sales of Walmart-Occupied Properties in Michigan, Ohio for $31.6 Million

by Alex Tostado

Howell, Mich. and Chillicothe, Ohio — Stan Johnson Co. has brokered the sales of two Walmart Supercenter-occupied properties in the Midwest on behalf of Dayton, Ohio-based developer RG Properties. Daniel Herrold and Campbell Black of Stan Johnson represented RG Properties, the seller, in the transactions. The first property totals more than 214,000 square feet and is located at 3850 E. Grand River Ave. in Howell, about 38 miles southeast of Lansing, Michigan. Brandon Duff of Stan Johnson represented the buyer, Consolidated Tomoka Land Co., which purchased the asset for $20.6 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsOhioRetailers

Marathon Petroleum to Sell Speedway to 7-Eleven for $21 Billion

by Alex Tostado

Findlay, Ohio — Marathon Petroleum Corp. (NYSE: MPC) has entered into a definitive agreement with 7-Eleven Inc., whereby 7-Eleven will acquire the convenience store chain Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021. Ohio-based Marathon expects the sale to result in after-tax cash proceeds of approximately $16.5 billion and to use the proceeds to both repay debt and return capital to shareholders. The arrangement includes a 15-year fuel supply agreement for approximately 7.7 billion gallons per year associated with the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts