Marcus & Millichap : Arranges the Sale of a 130,483-Square-Foot Retail Property in Eaton, Ohio

January 09, 2023

Top Midwest investment sales team Patton | Wiles | Fuller Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Eaton Center, a 130,483-square-foot retail property located in Eaton, Ohio which is within the Cincinnati metropolitan area.

The sale was brokered by the Patton | Wiles | Fuller Group of Marcus & Millichap’s Columbus office, CJ Jackson, first vice president, and Erin Patton, senior managing director, along with senior managing directors Scott Wiles and Craig Fuller of Marcus & Millichap’s Cleveland office, who had the assignment to market the property on behalf of the seller, a Cincinnati-based private ownership group. The Patton | Wiles | Fuller Group also procured the out-of-state fund which purchased the property.

“Given the strong mix of national tenants and upside potential, we had multiple offers on this,” Jackson said. “The smaller market location could have been viewed as a challenge, but we were able to get a number of investors excited about it after explaining the benefits of owning the ‘go-to center’ in these sorts of markets,” he added.

Eaton Center is located at 1603 N Barron Street in Eaton, Ohio. It is anchored by Kroger which has had a 30 plus year historical occupancy at this site. Additional tenants include Tractor Supply and AutoZone which have each had over 25 year historical occupancies. The property was approximately 70 percent occupied at the time of sale.

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