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JUST SOLD | Bentley Coe Plaza - $2,780,000 | 36,516 SF | 8.26% Cap Rate

December 2014

Kyle Hartung of Goodman Real Estate Services Group LLC recently brokered the $2,780,000 sale of Bentley Coe Plaza in North Olmsted, Ohio.  The plaza was 72% occupied at the time of sale and offered substantial upside to the investor.  Hartung exclusively represented the seller of the property and also procured the buyer, an affiliate of Timber Development Company based in Marietta, Georgia; and Orlando, Florida.

The property is a 36,516-square-foot neighborhood strip center located in North Olmsted, Ohio, and offered the investor tremendous upside through leasing the vacant 10,120-square-foot anchor space.  The property features modern storefronts and facades, all-brick construction, and exceptional visibility and access to Lorain Road, one of Cleveland’s major retail thoroughfares.  Located in one of the highest trafficked and most dynamic retail markets in Cleveland, the property’s tenant roster includes Verizon, Fast Signs, A Child’s View, Cirilla’s, China Renaissance, and others.

Goodman Real Estate Services Group is a commercial real estate brokerage company specializing in marketing or acquiring real estate for its clients.  Kyle Hartung is the Director of Investment Sales and can be reached at 216-381-8200, Ext. 205 and looks forward to discussing any investment sales needs, whether you are interested in selling, acquiring, or evaluating the current position of your property.