Marcus & Millichap completed the sale of a net-leased Charles Schwab location in Westlake, Ohio. The property sold for $4.2 million, equating to $584 per square foot on the building’s 7,187 square feet of rentable space.
Scott Wiles, Craig Fuller and Erin Patton, senior managing directors in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listing to market the property on behalf of the seller, a Cleveland-based family office. Michael Glass, Broker of Record in Ohio, assisted in closing the transaction.
“Marcus & Millichap’s national marketing reach was especially of value in sourcing a California-based 1031 purchaser,” said Wiles. “The transaction seamlessly closed after a short due diligence period.” Built in 2020, the building sits on a 1.43-acre parcel and features premium exterior finishes of stone, porcelain and glass.