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DevelopmentMixed-useNewsOhio

N.R. Investments Starts Construction of $300 Million Rockwell District Mixed-Use Redevelopment in Whitehall, Ohio

by Hayden Spiess

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 …

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Investment salesMixed-useNewsOhio

Nicol Investment Sells The Banks Mixed-Use Project in Downtown Cincinnati for $177 Million

by Hayden Spiess

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 …

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Investment salesNet leaseNewsOhio

Cooper Group Brokers $1.9 Million Sale of Ground Leased Taco Bell Property in Kent, Ohio

by Hayden Spiess

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.

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Grocery-anchoredInvestment salesNewsOhio

JRW Realty Negotiates Sale of 115,777-Square-Foot Shopping Center in Columbus

by Hayden Spiess

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.

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Company newsNewsOhio

Bath & Body Works Appoints Heather Hollander Vice President, Investor Relations

by Hayden Spiess

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.

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LeasingNewsOhio

10 New Tenants to Open at Easton Town Center in Columbus, Ohio

by Hayden Spiess

Columbus, Ohio — 10 new tenants are set to open at Easton Town Center, a retail center located in Columbus, has been joined by 10 new retailers. New openings will include lifestyle brand Parachute, Amazon Style, luxury footwear brand FREEBIRD, bridal shop Vow’d, women’s clothing retailer Garage, lab-grown diamond brand Clean Origin, Dos Hermanos restaurant, alpaca-fleece apparel store Pacas, Wanderlust Shops and Bliss in a Bottle, which sells chocolate-covered bottles of wine, beer and spirits. These openings mark the first brick-and-mortar locations for Clean Origin and Pacas. Additionally, the stores …

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Investment salesNewsOhio

Sekulovski Group Brokers $14 Million Sale of Shopping Center Near Pittsburgh

by Hayden Spiess

Steubenville, Ohio — Sekulovski Group has arranged the $14 million sale of Rural King Plaza, a 215,360-square-foot shopping center located in Steubenville, roughly 40 miles west of Pittsburgh. A Brooklyn-based private investor acquired the property from PICOA Inc. of Los Angeles. Tony Sekulovski of Sekulovski Group brokered the transaction. Anchor Rural King occupies 104,230 square feet at the center, which was 97 percent leased at the time of sale. Other tenants at the property include Ollie’s and Planet Fitness, which occupy 43,600 and 20,365 square feet respectively. A 17,000-square-foot Dollar …

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Investment salesNewsOhio

Marcus & Millichap Arranges $10.6 Million Sale of Shopping Center Near Columbus, Ohio

by Hayden Spiess

Lancaster, Ohio — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.

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DevelopmentMixed-useNewsOhio

Bedrock, City of Cleveland Unveil Plans for $3.5 Billion Cuyahoga Riverfront Project

by Hayden Spiess

Cleveland — A partnership between Detroit-based developer Bedrock and the City of Cleveland has unveiled plans for the Cuyahoga Riverfront, an initiative that will feature 3.5 million square feet of new development and adaptive reuse projects across 35 acres of publicly and privately owned waterfront land. According to multiple news outlets including The Plain Dealer and Spectrum News, the project is valued at $3.5 billion. Preliminary plans for the site call for the addition of approximately 2,000 residential units, 850,000 square feet of office space and 12 acres of open …

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Investment salesMinnesotaNebraskaNewsOhio

Timber Development Corp. Sells Three Shopping Centers Totaling $11.2 Million

by Hayden Spiess

Longwood, Fla. — Timber Development Corp. has completed the sale of three retail centers for a total of $11.2 million. The properties are located in Nebraska, Ohio and Minnesota. Eric Abbott and Zach Taylor of Marcus and Millichap represented Timber in the $4.6 million sale of the Norfolk, Nebraska, shopping center, which comprises 36,500 square feet and is shadow-anchored by Walmart. Bentley Coe Plaza — a 36,600-square-foot center located in Olmsted, Ohio — was purchased for $4.4 million. Kyle Hartung of Goodman Realty brokered the transaction. AJ Prins of CBRE …

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