The Cooper Commercial Investment Group closed the sale of a single-tenant net-lease Charles Schwab office in Copley, Ohio.
Dan Cooper of the Cooper Commercial Investment Group in Cleveland represented the seller, a private investment group from Ohio. The buyer purchased the asset for $4.485 million, representing a 5.99% CAP and $897 a square foot.
The all-cash transaction went from contract to close in about 30 days.
The Charles Schwab banking office sits on an oversized 1.16-acre lot. The original 15-year lease leaves the owner with about 13.5 years of term remaining and offers multiple rental increases and options to extend.
