CLEVELAND—Everyone knows e-commerce has undermined many retailers, forcing store closures and bankruptcies, but each region still has a number of well-occupied retail properties that attract investors.
Institutional Property Advisors, a division of Marcus & Millichap, just helped complete the sale of Marketplace at Four Corners, a 525,708-square-foot shopping center in Aurora, OH, a suburb about 25 miles southeast of Cleveland. The sales price was $55,675,000.
“At the time of the sale, the center was 99% occupied,” says Scott Wiles, senior director. “Highlighted by prominent anchors such as Walmart, Kohl's, Dick's Sporting Goods, and HomeGoods, 96% of the in-place tenancy was leased to national retailers.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
