Lowe’s Ground Lease in Cincinnati, OH Sells for $14.25 Million

  

Lowe's, 5385 Ridge Avenue, Cincinnati, OH

  

Erin Patton

 CINCINNATI, OH  – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 138,445-square-foot Lowe’s Home Improvement store ground lease in Cincinnati.

The $14,253,731 sales price equates to $103 per square foot.

            Senior associate Craig Fuller and vice president investments Scott Wiles, both in the firm’s Cleveland office and Erin Patton, a vice president investments in Marcus & Millichap’s Columbus office, represented the seller, a New York-based investment fund.

Fuller, Wiles and Patton also represented the buyer, a national real estate investment trust.

            “Investor demand for high-quality single-tenant assets, particularly stable net-leased properties, remains steady amid a low supply of assets listed for sale,” says Fuller.

            The home improvement store is located at 5385 Ridge Ave. in Cincinnati. There are eight-and-a-half years remaining on the ground lease.           

 For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716