The Cooper Commercial Investment Group sold a single-tenant Taco Bell located as an outparcel to Maplecrest, a power retail center in Kent/Brimfield, Ohio.
Dan Cooper of the Cooper Commercial Investment Group in Cleveland represented the seller, a private investment group in Northeast Ohio.
The buyer purchased the property for $1.88 million, representing 99% of the list price, a 4.52% CAP and $897 a square foot.
The Taco Bell, built in 2019, is on a 25-year lease with about 22 years of term remaining. The lease includes rental increases every five years, with the next increase coming in 2024.