March Closed Transactions
March was another active month for our brokerage, which included several notable deals. Overall, we closed 18 transactions equating to nearly 200,000 square feet.
Mike Simpson closed the highest-value transaction of the month. He partnered with Skip Weiler of Robert Weiler Co. to represent Capital University in the sale of Trinity Lutheran Seminary Apartments to Continental Real Estate Cos. The developer plans to transform the property by building a $77 million mixed-use development at 2160-2184 E. Main St. in Bexley.
Simpson also worked with Andrew Green to sell 741 E. Broad St., the highest-value office transaction of the month. The 9,600-square-foot office building was formerly a Netcare Addiction Treatment Center purchased by The Breathing Association, a local non-profit specializing in lung health services, for $990,000.
The Office Brokerage Team of Matt Gregory, SIOR CCIM, Andy Dutcher, SIOR and Philip Bird, SIOR completed three-quarters of the month’s office transactions. Overall, office transactions accounted for 22% of the month’s activity.
Mitchell Moore closed the highest-value retail transaction of the month with the sale of 4011 E. Main St., a 5,580-square-foot freestanding retail building.
Ryan McGreevy represented the landlord, Northbridge Plaza, in negotiating and successfully leasing both available storefronts at 5744 and 5780 Frantz Road. The new tenants are Frantz Road Market and Kenny the Tailor.
The number of monthly completed retail transactions continues to climb within our brokerage. Roughly 28% of the month’s total activity volume was retail.
The largest industrial transaction by value was completed by Joe Menninger, CCIM who represented the seller in the sale of 2256 Citygate Dr. The 33,453-square-foot flex industrial building was purchased by Mid-State Basement Systems for $4.25 million.
Approximately 44% of the month’s transactions were industrial.
