Marcus & Millichap closed the sale of North Heights Plaza, a 113,732-square-foot shopping center in Huber Heights, Ohio. The asset sold for $8.55 million, which exceeded 97 percent of the list price.
The sale was led by CJ Jackson, first vice president, and Erin Patton, senior managing director, along with Scott Wiles and Craig Fuller, senior managing directors, based out of the Columbus and Cleveland offices.
The team had the exclusive listing to market the property on behalf of the seller, a private out-of-state investor and also sourced the REIT buyer who was found on the first day of marketing.
In collaboration with Jackson and the Patton|Wiles|Fuller Group of Marcus & Millichap, JRW Realty helped facilitate the all-cash acquisition of the net-leased property on behalf of ExchangeRight, A vertically integrated real estate company with more than $3.8 billion in assets under management.
The property was fully occupied at the time of sale and was anchored by Hobby Lobby and Bed Bath & Beyond.