The Cooper Commercial Investment Group closed the sale of Washington Center, a mixed-use asset, composed of retail, flex, and warehouse, in Chagrin Falls/South Russell, Ohio.
Bob Havasi and Dan Cooper of the Cooper Commercial Investment Group in Cleveland represented the local seller on the transaction. The property generated strong investor interest, resulting in multiple qualified offers and competitive buyer activity, ultimately closing at $7,840,000, representing a 7.76% CAP Rate.
Washington Center is comprised of approximately 67,530 square feet, sits on a 5.00-acre lot and is occupied by a stable roster of long-term tenants who have been in place for years and have consistently exercised renewals. The asset’s established tenancy and operating history provide dependable income and long-term security for the new investor.
