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Welcome to our blog! Our blog will give us the opportunity to share news, updates and success stories we have going on here at Goodman Real Estate. Thank you for visiting!

Little Gym Joins the Shops at Rockport in Rocky River

The Little Gym will be joining The Shops at Rockport this fall, which is located on Center Ridge Road in Rocky River. Their new freestanding location will be directly in front of the new $30,000,000 Brighton Chase residential development, Fitworks, and Storage Zone. Brighton Chase contains 264 high-end residential units, and has been operating with a wait list. Storage Zone is currently under construction and will open this summer with over 500 indoor climate controlled self-storage units available for rent. Two spaces remain available in the building adjacent to The Little Gym, including a built out restaurant, for those who are interested in joining this exciting redevelopment. Zack Sogoloff, Senior Vice President, and Seth Marks, Senior Associate, at Goodman Real Estate Services Group represented the landlord in this transaction.

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The Shoppes on Bluebell Now Open in New Philadelphia, Ohio

Over Memorial Day Weekend 2017, Starbucks Coffee welcomed customers to the grand opening of its very first location in New Philadelphia, Ohio.

The location is part of the brand new Shoppes on Bluebell, a 10,400 SF retail development on 2 acres of land just off of Interstate 77 and conveniently located halfway between Cleveland and Interstate 70. Other tenants new to the market that are scheduled to open this summer at Shoppes on Bluebell are Smoke the Burger Joint, a fast-casual burger concept founded by the owners of Old Carolina Barbecue Company, and Chipotle Mexican Grill. In addition to this, two more tenants are currently under negotiation with the property owner and client of Daniel Clark and Heather Bowden-Ebright, Witness Hospitality.

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Starbucks Expanding Throughout Ohio

Five new Starbucks locations are planned to open throughout Ohio, in Columbus, North Canton, Westerville, Macedonia, and Medina. The Wilson, a new mixed-use retail and residential development located at the corner of E. Lane Avenue and N. High Street, a main gateway to The Ohio State university campus in Columbus, Ohio, will welcome Starbucks, Chipotle, and CoreLife Eatery. Starbucks will also be coming soon to a new retail strip at the intersection of Polaris Parkway and Cleveland Avenue, part of a broader development anchored by a HealthSouth rehabilitation hospital, in Westerville, Ohio. Starbucks will be joined by Local Cantina and Bru Burger Bar in the 14,500-square-foot strip called The Corner  In Westerville, Ohio. Starbucks plans to open approximately 12,000 new stores globally by 2021. Steve Altemare, Senior Vice President, and Dan Clark, Vice President at Goodman Real Estate Services Group, Columbus Office, represented Starbucks in this transaction.

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Taco Bell Coming Soon to Detroit Road in Avon, Ohio

Taco Bell will be joining one of Northeast Ohio’s most successful regional trade areas on Detroit Road in Avon. The new site will be placed in between Burger King and Fifth Third Bank. The fast food chain will be joining a vibrant community, with French Creek Square, Avon Commons, and City Centre of Avon all located just minutes down the road. The area continues to grow, and a new HomeGoods just moved into Avon Commons this past April. Michael Solomon, Senior Director at Goodman Real Estate Services Group, represented the buyer in this transaction. Zack Sogoloff, Senior Vice President, and Seth Marks, Senior Associate with Goodman Real Estate Services Group, represented the seller in this transaction.

 

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Blaze Pizza Opens Second Location in Central Ohio

Worthington, Ohio will soon have another fast-casual dining option on North High Street just south of the interchange for Interstate 270.

Blaze Pizza will be opening in the northern Columbus suburb in a space formerly occupied by Cosi at 7166 North High Street. The Pasadena, California-based fast-casual pizza chain joins existing tenants Starbucks, ImmediaDent, Jimmy John’s, and Sport Clips in a center located just across the street from the Kroger-anchored Shops at Worthington Place.

This marks the second location for Blaze Pizza, which boasts 191 locations in North America. They first entered the Columbus market in February of 2015 with a location near the Ohio State University’s campus. Blaze is known for its create-your-own “Fast Fire’d” personal pizzas, which are then cooked in an open-flame oven for about three minutes at temperatures averaging around 700 degrees Fahrenheit.

Dan Clark, Vice President of our Columbus office, exclusively represents Blaze Pizza in all of Central Ohio.

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Visit us at ICSC RECon, May 21 - 24, 2017 at the Las Vegas Convention Center, Las Vegas, Nevada!

 

Are you attending ICSC RECon 2017? This email address is being protected from spambots. You need JavaScript enabled to view it., or visit us at Booth N2910X (North Hall, Space 2910 on X Street)!

We are a commercial real estate brokerage company servicing Ohio and the surrounding states in property marketing, tenant and buyer site selection, and investment sales nationwide.

  • Market leader in commercial real estate services specializing in retail
  • Investment sales throughout the United States
  • Currently marketing over 11.7 million square feet of property for sale, lease, and development in Ohio
  • Our current tenant representation service includes over 100 companies throughout the Midwest
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GOODMAN REAL ESTATE SERVICES GROUPS’ BROKERS RECEIVE 2016 COSTAR POWER BROKER AWARD

Commercial Real Estate’s Leading Independent Information Provider Recognizes Market’s Top Leasing and Sales Brokers

Cleveland, Ohio – April 20, 2017 – Goodman Real Estate Services Group LLC is pleased to announce that Bobby Benjamin, Jim Becker, Randy Goodman, Rob Yaskanich, Steve Altemare and Zack Sogoloff have all been named a 2016 CoStar Power Broker TM by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.  This annual industry award recognizes distinguished professionals in commercial real estate brokerage by highlighting the achievements of the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2016 within their respective markets. 

With the largest independently researched database of commercial real estate property information available online, CoStar can easily identify the top firms and brokers in each market throughout the U.S. and Canada.  All awards are based on transaction data maintained in CoStar's commercial real estate database.

Benjamin, Becker, Goodman, Yaskanich, Altemare and Sogoloff all qualified as one of the top commercial brokers in Cleveland based on the total leasing or sales transactions they closed during the year.  In order to be selected for this honor, their overall transaction volumes were evaluated by CoStar against other commercial real estate brokers active in the region, and subsequently ranked among the top brokers in the market.

 “With such an active year in commercial real estate, CoStar is proud to honor the firms and brokers who perform at the industry’s highest level,” said CoStar Group founder and CEO Andrew C. Florance. “These industry leaders deserve to be recognized for their hard work, expertise and superior deal-making abilities. We extend our congratulations to this year’s winners on their hard earned achievement.”

The complete list of 2016 CoStar Power Broker Awards winners can be found at CoStarPowerBrokers.com.

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First Watch Continues to Grow in Columbus, Expands to Toledo

Columbus’ Gateway will soon be adding another restaurant to its mix. This time, it’s daytime café First Watch. The 195-unit chain has begun construction in the southern entertainment and restaurant hub of the Ohio State University’s campus at 1567 North High Street in Columbus, at the northwest corner of North High Street and West Tenth Avenue. The space is the southern-most end of a building occupied by, among others, Panera Bread, Five Guys Burgers & Fries, AT&T, Sprint, and the Aveda Institute. First Watch is working diligently toward a Summer 2017 opening.

In addition to this new location in Columbus, First Watch will be opening its very first location in the greater Toledo area around the same time, with construction set to begin in early April. The breakfast-brunch-lunch concept will open at the brand new Secor Square, a retail project anchored by the first Whole Foods store in Toledo. The center is approximately 68,000 SF and First Watch will have great visibility in the prime position at the corner of Secor Road and Executive Parkway.

Dan Clark, Vice President of our Columbus office, exclusively represents First Watch in all of Central and Northern Ohio.

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Goodman Real Estate Services Group LLC Honored with 2016 CoStar Power Broker Award

 

Local Firm Selected by Commercial Real Estate’s Largest Research Organization as One of the Top Leasing and Sales Firms in the Market

Goodman Real Estate Services Group LLC has been selected by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, to receive a CoStar Power Broker TM Award.  This annual award recognizes the best of the best in commercial real estate brokerage by highlighting the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2016 within their respective markets.  

With the largest independently researched database of commercial real estate property information available online, CoStar can easily identify the top firms and brokers in each market throughout the U.S. and Canada.  All awards are based on transaction data maintained in CoStar's commercial real estate database.  

Goodman Real Estate Services Group LLC qualified as one of the top commercial brokerage firms in Cleveland, Ohio based on total sale transactions closed during the year.  In order to be selected for this honor, Goodman Real Estate Services Group’s overall transaction volumes were evaluated by CoStar against other commercial real estate brokerage firms active in its region, and subsequently ranked among the top firms in the market. 

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Naf Naf Grill Opens First Ohio Location in Independence

Being referred to as “the Chipotle of Middle Eastern food”, Naf Naf Grill has entered the Ohio market. The fast-casual Middle Eastern restaurant hosted their grand opening in Independence on March 16th, complete with free pita. This opening marks the 30th store for Naf Naf Grill. About 50% of their restaurants are in suburban locations, and Independence made history as the strongest suburban opening to date. Naf Naf Grill is located at 6714 Rockside Road in Independence. Jim Becker, Senior Executive/Director with Goodman Real Estate Services Group had the pleasure of making this deal come to life.

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Fresh Thyme Farmers Market Perfect Fit for Mayfield Heights Community

     

Since planting its roots at Golden Gate Shopping Center in Mayfield Heights last month, Fresh Thyme Farmers Market has been off to an impressive start. The organic food store with a “mission to improve the way our communities eat by offering fresh and healthy food at amazing values” opened to a large crowd of excited shoppers on February 8th. This inspired Mayfield Heights community led the store’s Grand Opening to place among the Top 10 openings of all stores (52) to date. As an extra offering, the first 250 guests in line were gifted with a free bag of groceries.

This enthusiastic reception of the first Fresh Thyme location in Northeast Ohio has not wavered, as sales continue to thrive at a pace above projection.

Jim Becker, Senior Executive/Director, and Robert Yaskanich, Senior Director, with Goodman Real Estate Services Group LLC, have been brokers together for the 371,748 SF Golden Gate Shopping Center since 2014, seeing it through Cleveland’s Largest single-asset retail sale that same year.

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Phase III Construction at Oakwood Commons Nearing Completion

First Interstate Properties purchased the former Oakwood Country Club and land in 2011, with construction commencing in 2013. The innovative, green retail concept was developed for a community that was underserved by national retailers and the surrounding neighborhoods in need of revitalization. Six years later, the final phase of construction at Oakwood Commons is nearing completion with a slate of stores expected to open in spring 2017. Goodman Real Estate Services Group represents First Interstate Properties in the leasing of retail space at Oakwood Commons. 

Oakwood Commons is South Euclid’s newest and ecologically innovative 325,000 square foot retail power center. By using sustainable design, Oakwood Commons, combines educational elements, low-impact development techniques, and environmentally conscious practices in creating the first environmentally conscious retail complex in northeast Ohio. Oakwood Commons also donated 21 acres of land and $400,000 for funding of improvements to the City of South Euclid to create Oakwood Green, a nature preserve and isolated public park located behind the shopping center. Amenities of the new nature preserve include an amphitheater, nearly one mile of walking trails, native plants and bioswales, and permeable paving to manage a 5.5 acre stormwater wetland witheducational opportunities.

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Storage Zone Breaks Into a High-End Market

Storage Zone is a self-storage company with 20 locations in Northeast Ohio. The vast majority are free-standing buildings on the fringes of major metropolitan areas. One of the challenges for Storage Zone is finding new locations in middle to high income communities. Zoning in those areas often prevents their “use” from operating. Contrary to these restrictions, there is a need for self-storage and the units in comparable markets generally have high occupancy rates.

One such high-end market is Rocky River. Finding a site to build a self-storage in this municipality has never seemed possible…until October of 2016. The City of Rocky River told Wald & Fisher, the owner of Rockport Shopping Center, that it would consider self-storage for a conditional use as a part of the center’s redevelopment.  The city considered it a viable solution for anchor space that has been empty for many years. Jim Becker contacted Storage Zone immediately. They were excited about the opportunity to break into the market and made a deal with Wald & Fisher in record time. Storage Zone presented rough plans and elevations to Rocky River in mid-December and the city approved their application.

If all goes well, Storage Zone will open in the second quarter of 2017.

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Columbus’ Short North Development Expands Beyond High Street

The residential boom in one of Columbus’ most trendy neighborhoods continues as it continuously begins to see new developments east and west of High Street.

The Short North, a Columbus neighborhood wedged in between The Ohio State University campus district to the north and the city’s central business district to the south, continues to be one of the fastest growing neighborhoods in the state capital. Growth in the area is so considerable that many new developments are popping up off the main drag of High Street and into the Short North’s smaller neighborhoods, such as Victorian Village to the west and Italian Village to the east.

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Multi-Tenant Outparcel Buildings Gaining 1031 Momentum

When professionals in the real estate industry hear the term “1031,” they typically think of single tenant, triple-net leased properties.  Drugstores.  Restaurants.  Banks.  This certainly is a past and present trend, but compressing cap rates in these sectors have caused many private exchange buyers to look elsewhere for higher returns.  The retail model with perhaps the highest uptick in recent demand has been the newly-constructed two to three tenant buildings, especially outparcels to larger shopping centers.  Tenant categories many times include at least one, if not two, restaurants, and may include cellular phone stores, mattress, dental, and a host of other small format retailers.  While cap rates for these properties can dip into the 5% cap rate range, by and large they have been trading between 6% and 6.75% depending on tenancy and market. 

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EAT MOR CHIKIN! Chick-fil-A opens in Fort Wright, Kentucky

Fort Wright, Kentucky can now enjoy all there is to offer at Chick-fil-A! It is my pleasure to announce Richard Edelman, Senior Vice President & Principal of Goodman Real Estate Services Group LLC, closed the deal after a three-and-a- half year process. Beginning in 2013, Mr. Edelman contracted to purchase the piece of property for Chick-fil-A, but ran into a predicament of needing additional land.  Reaching out to the adjacent property owner, Mike Brandy, Richard attempted to purchase the property. Not willing to sell outright, they negotiated a deal where Mr. Brandy would buy the parcel Chick-fil-A was negotiating to buy and then Chick-fila would lease the combined parcels from Mr. Brandy. To make matters even more complicated, to meet parking codes the development required the acquisition of right-of-way owned by the Commonwealth of Kentucky. Mr. Brandy, Chick-fil-A and Mr. Edelman worked well together to make this requirement attainable. When you have an ideal location, you strive to make it happen. All of the obstacles were worth it in the end! 

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