Ohio / Michigan Area News

AIC Ventures Sells Distribution Centers for $40M

AIC Ventures sold two distribution centers in Ohio to VEREIT, Inc. for $40 million, or approximately $72 per square foot. The deal totals 554,037 square feet and includes 12850-13000 Darice Pky. in Strongsville, OH. The facilities were constructed in 1999-2000. The full-service real estate operating company, VEREIT, purchased the properties at a 6.16% CAP rate. Terry Coyne, Kristina Hull and Bret Hardy of Newmark Knight Frank represented AIC...
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Posted: September 14, 2017, 1:08 am