REAL ESTATE

Cleveland-area center sells for $17.79 million

BY Michael Fickes

North Olmsted, Ohio — Marcus & Millichap Real Estate Investment Services has arranged the sale of North Olmsted Towne Center, a 95,446-sq.-ft. shopping center in North Olmsted, Ohio, approximately 17 miles southwest of Cleveland. The selling price was $17.79 million, $186 per square foot.

Towne Center tenants include David’s Bridal, The Tile Shop, Jimmy John’s, La-Z-Boy, Men’s Wearhouse, Moe’s Southwest Grill, Party City and Pearle Vision.

Marcus and Millichap represented the seller, a Cleveland investment group. Wiles, Fuller, Patton advised the buyer, an out-of-state private investor.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Devonshire REIT acquires five Ohio properties

BY Michael Fickes

Whitehouse, Ohio — Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:

• Monroe Street Square Shopping, a 124,904-sq.-ft. center in Toledo, Ohio, anchored by Hobby Lobby. Tenants include Sally Beauty Supply, Gamestop, Play It Again Sports and Sprint PCS.

• Bed Bath & Beyond Plaza, a 100% leased, 55,139-sq.-ft. center in Toledo, anchored by Bed Bath & Beyond. Tenants include SalonCentric and Edward D. Jones.

• Office Depot Plaza, a 100% leased, 45,594-sq.-ft. center in Toledo, anchored by Office Depot.

• Pier 1 Imports, a 9,860-sq.-ft. single-tenant triple-net leased property in Toledo.

• Villages at Waterville Landing in Waterville, Ohio, a 350-acre mixed-use development with 125 acres zoned for retail development. Devonshire has acquired the retail portion of the project, which currently includes a new 80,000-sq.-ft. Kroger, a Farmers & Merchants State Bank branch and a Speedway fuel center that is under construction. Plans for the undeveloped retail space remain confidential.

The properties were purchased from local real estate developers and investors.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
News

HH Gregg searches for new CFO

BY CSA STAFF

Consumer electronics retailer HH Gregg is looking for a new chief financial officer after Jeremy Aguilar resigned from the company to accept a similar role elsewhere.

Aguilar spent eight years with the Indianapolis-based operator of 228 stores. His resignation is effective as of January 31 at which time SVP of finance Andrew Giesler will assume CFO responsibilities on an interim basis.

“I would like to thank Jeremy for his leadership and many contributions to HH Gregg over the past eight years,” said HH Gregg president and CEO Dannis May. “Jeremy has been an instrumental member of our leadership team and helped support the growth of the company’s store base as we work toward becoming a national retailer. We are fortunate to be making this transition with a deep and experienced finance team in place.”

Interim CFO Gieseler joined HH Gregg in 2007 and has held several finance roles at the company. In addition to his current position, Giseler served as vp of finance, controller and director of finance and investor relations.

According to May, “Andy Giesler is a talented and experienced finance executive and I am confident he will lead the transition effectively. The company continues to pursue its key business strategies and Andy has been and will continue to be an important part of my team.”

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...