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| Lori Schneider |
SPRINGFIELD, OH – Institutional Property Advisors (IPA), a division
of Marcus & Millichap specializing in serving institutional and major
private real estate investors, is pleased to announce the sale of Springfield Commons, a
207,497-square-foot shopping center located in Springfield, Ohio.
The property
sold for $19,900,000.
Lori Schneider,
IPA executive director, advised the seller, a private investor. American Realty
Capital Properties Inc. facilitated the acquisition on behalf of Cole Credit
Property Trust IV Inc.
Michael Glass, first vice president and
regional manager in Marcus & Millichap’s Cleveland office, is the firm’s
broker of record in Ohio.
“It is challenging to find a stabilized center leased
entirely to national retailers of this quality,” says Schneider.
“Our marketing
campaign targeted both private and institutional investors seeking a core asset
with in-place debt allowing for ease of acquisition and management.”
 |
| Michael Glass |
Built in 1995 on 26.5 acres, the investment real estate asset is located on Springfield’s main retail corridor at 1501 Bechtle Ave. with frontage on Bechtle Avenue, State Route 68 and State Route 41.
Springfield Commons’ tenants are Lowe’s, Best Buy, PetSmart,
Aaron’s, Planet Fitness and Mattress Firm.
For a complete copy
of the company’s news release, please contact:
Gina Relva
Public Relations Manager
Marcus & Millichap Capital Corporation
(925) 953-1716
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