Marcus & Millichap negotiated 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.
Located across from Crocker Park, the No. 5-ranked retail center in the U.S., the property benefits from a densely populated, high-traffic area with 26,000 vehicles passing daily, and immediate access to Interstate 90. Built in 2020, the building sits on a 1.43-acre parcel and features premium exterior finishes of stone, porcelain and glass.
