Gorjian Completes 27th Property Purchase in 12 months

CLEVELAND, OH–Real estate investor Joel J. Gorjian, of Gorjian Acquisitions, has purchased 1450 Hayden Ave. in East Cleveland, OH. The 25,250-square-foot retail space marks the 27th acquisition by Gorjian in the last year.

Roses Express, a discount retailer selling apparel, shoes, accessories, home furnishings and toys, occupies all of the space.

Terms of the all-cash deal were not disclosed. GlobeSt.com was unable to reach Gorjian for comment.

The purchase of 1450 Hayden Ave. is part of a larger 12-month buying spree for Gorjian.

“This latest acquisition brings our national ownership interest portfolio to 60 properties totaling 7 million square feet,” Gorjian said.

In Ohio, Gorjian also recently purchased the Midway Plaza shopping center in Tallmadge, OH; the Salem Plaza in Dayton, OH; the Northfield Miles Plaza in North Randall, OH; and 6500 St. Claire Avenue, a single-tenant retail property in Cleveland, OH. But Ohio deals are not the only properties the New York-based company is pursuing.

“We are currently pursuing additional opportunities in the Cleveland area as well as throughout the Midwest, Southwest, Southeast, and Northeast,” Gorjian said.

In Illinois, Gorjian purchased Lee Wayne Plaza in Sterling, IL. The 43,514-square-foot office and retail strip center houses 13 tenants including the Bi-County Special Education Cooperative, the Illinois Department of Employment Security’s Unemployment Career Center, McCormick Financial Services, Comcast of Northern Illinois, Castor Home Nursing Inc. and Back to Health Chiropractic Care among others.

Other recent Midwest acquisitions include the Matteson Town Center and the Marketplace Of Matteson, both in Matteson, IL; the Northfield Miles Plaza in North Randall, OH; and the Ridge Plaza in Gary, IN.

The company’s properties vary across sectors including mixed-use, shopping centers, medical, multi-family, and office.