Erin E. Patton
Senior Director
IPA Midwest – Retail

IPA Midwest – Retail

IPA Midwest is a premier retail investment sales team specializing in multi-tenant shopping centers and net leased properties throughout the Midwest.  We offer innovative marketing strategies and superior client service with a commitment to ethics and integrity, and we look forward to working with you.

Erin E. Patton

Erin E. Patton
  • Senior Director

  • Midwest
  • Investment Sales
  • Direct: (614) 360-9035
  • Office: (614) 360-9800
  • epatton@ipausa.com
  • License: OH SAL.2004010274
Erin Patton is a senior director of IPA, located in the Columbus, Ohio office focused on retail investments in the Midwest. Ms. Patton specializes in the acquisition and disposition of shopping centers and net-leased retail investments. She has 12 years of experience in the retail investment sales sector.

Since joining Marcus & Millichap in November 2004, Ms. Patton has earned the firm’s National Achievement Award every year since 2012.  Ms. Patton partners with Craig Fuller and Scott Wiles as a top producing retail investment sales team in the Midwest.  She has successfully arranged the sale of 17 million square feet of retail property sales valued in excess of $1.3 bllion.

Ms. Patton received her Bachelor of Science, in Communications from Ohio University.

Craig Fuller

  • Cleveland Office
  • Crown Centre
  • 5005 Rockside Road, Suite 1100
  • Independence, OH 44131
Craig Fuller is a senior director of IPA, located in the Cleveland, Ohio office covering the Midwest markets. Mr. Fuller specializes in the acquisition and disposition of shopping centers and other retail assets. He has more than 8 years of experience in the retail property sector.

Since joining Marcus & Millichap in June 2008, Mr. Fuller has earned the firm’s National Achievement Award every year since 2012.  Mr. Fuller partners with Erin Patton and Scott Wiles as a top producing retail investment sales team in the Midwest.  During his career with Marcus & Millichap, Mr. Fuller has successfully negotiated the sale of more than 16.5 million square feet of retail properties in excess of $1.2 billion.

Mr. Fuller received his bachelor’s degree from Ohio State University’s Fisher School of Business with a focus in real estate.

For more information, visit Craig Fuller’s Advisor page

Scott Wiles

  • Cleveland Office
  • Crown Centre
  • 5005 Rockside Road, Suite 1100
  • Independence, OH 44131
Scott Wiles is a senior director of IPA, located in the Cleveland, Ohio office covering the Midwest markets.  Mr. Wiles specializes in the acquisition and disposition of retail shopping centers and net-leased retail investment properties.

Since joining Marcus & Millichap in August 2005, Mr. Wiles has earned the firm’s National Achievement Award every year since 2012.  Mr. Wiles partners with Craig Fuller and Erin Patton as a top producing retail investment sales team in the Midwest.  During his career with Marcus & Millichap, he has successfully closed more than $1.3 billion totaling 17 million square feet in retail property investment sales. 

Mr. Wiles graduated from John Carroll University in Cleveland with a bachelor’s degree in finance and economics.

For more information, visit Scott Wiles’ Advisor page

Gregory Arlauckas

  • Cleveland Office
  • Crown Centre
  • 5005 Rockside Road, Suite 1100
  • Independence, OH 44131
Gregory Arlauckas is a financial analyst for of the IPA Midwest – Retail team located in Cleveland, Ohio.  Mr. Arlauckas specializes in underwriting single and multi-tenant commercial investments, with a focus on institutional grade assets.  He is responsible for underwriting and evaluating assets, identifying key comparables, market tracking, trend analysis, and forecasting for the various property types.

Mr. Arlauckas received his Bachelor of Science in statistics from Case Western Reserve University.

Sarah Schofield

Sarah Schofield is an escrow coordinator for the IPA Midwest – Retail team located in Columbus, Ohio.  Ms. Schofield joined the team in 2014 as the lead escrow and transaction coordinator. She oversees transaction advancement of property to ensure a smooth and efficient escrow process.

Ms. Schofield graduated with a Bachelors in psychology from Washington & Jefferson College.

Recent Transactions

  • Shoppes at River Ridge

    Location: Columbus, OH

    Year Built: 2007

    Price: Confidential

  • River Valley Plaza

    Location: Lancaster, OH

    Year Built: 1989

    Price: $15,800,000

  • Crossing Meadows

    Location: Onalaska, WI

    Year Built: 1994

    Price: $16,300,000

  • Giant Eagle Portfolio

    Location: Various, OH

    Year Built: 1989

    Price: $27,750,000

  • Creekside Commons Shopping Center

    Location: Mentor, OH

    Year Built: 1995

    Price: $28,300,000

  • Cedar Center North

    Location: South Euclid, OH

    Year Built: 2012

    Price: Confidential

  • Heritage Square

    Location: Granger, IN

    Year Built: 2007

    Price: $20,500,000

  • Highland Lakes Center

    Location: Orlando, FL

    Year Built: 1991

    Price: $21,500,000

  • Pavilion Shopping Center

    Location: Beachwood, OH

    Year Built: 1975

    Price: $34,300,000

  • North Olmsted Towne Center

    Location: North Olmsted, OH

    Year Built: 2007

    Price: $17,790,000

  • Sam's Club NN Lease

    Location: Brooklyn, OH

    Year Built: 1987

    Price: $21,425,000

  • Waxahachie Crossing

    Location: Waxahachie, TX

    Year Built: 2009

    Price: Confidential

  • Shreve City Shopping Center

    Location: Shreveport, LA

    Year Built: 1965

    Price: $15,400,000

  • T J Maxx Center

    Location: GRAND CHUTE, WI

    Year Built: 1988

    Price: $16,100,000

  • Brixmor
  • Casto
  • DDR Corp.
  • EDENS
  • Garrison Investment Group
  • Glimcher Group
  • Inland American
  • Kimco
  • Lamar Companies
  • Phillips Edison & Company
  • Simon
  • Stark Enterprises
  • Visconsi Companies Ltd.
  • WP Glimcher

In The News

  • Northland Plaza, located just 11 miles north of downtown Columbus and The Ohio State University, sold for $4.5 million to a private buyer, after less than one week of bidding offers.

    The Patton | Wiles | Fuller Group of Marcus & Millichap, announced the sale of a 210,036-square-foot retail shopping center in Columbus, Ohio. Northland Plaza traded for $4.5 million, or nearly $21 per square foot.

    Read More

    Marcus & Millichap Brokers $4.5M Sale of Shopping Center in Columbus, Ohio

    COLUMBUS, OHIO — Marcus & Millichap has brokered the sale of Lincoln Village in Columbus for $4.5 million. The 210,036-square-foot shopping center is located at 2769 Northland Plaza Drive. Anchored by Discount Fashion Warehouse, Scare-A-Torium and Family Thrift, the center was 92 percent occupied at the time of sale. Other tenants include GNC, CSL Plasma, Donatos Pizza and Steak ‘n Shake. Erin E. Patton, Scott Wiles and Craig Fuller of Marcus & Millichap marketed the property on behalf of the seller, a New York-based family office. A private local buyer purchased the property.

    Read More

    Marcus & Millichap sells 210,000-square-foot retail center in Columbus

    Investment sales team the Patton|Wiles|Fuller Group of Marcus & Millichap recently negotiated the sale of Northland Plaza, a 210,036-square-foot retail shopping center in Columbus, Ohio.

    Read More
  • Marcus & Millichap Brokers $3.6M Sale of Shopping Center in Springfield, Ohio

    SPRINGFIELD, OHIO — Marcus & Millichap has arranged the sale of Burnett Plaza in Springfield, west of Columbus, for $3.6 million. The 86,335-square-foot shopping center is located at 508 South Burnett Road. The center was built in 1960 and renovated in 1997. The property was 87 percent occupied at the time of sale and is anchored by Family Dollar, AutoZone and Ace Hardware. C.J. Jackson, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap marketed the property on behalf of the seller, an Ohio-based REIT. The team also secured and represented the buyer, a private out-of-state group.

    Read More

    Marcus & Millichap Brokers $6.6M Sale of 153,976 SF Shopping Center in Southern Ohio

    WILMINGTON, OHIO —Marcus & Millichap has brokered the sale of a 153,976-square-foot community shopping center in Wilmington, approximately 50 miles northwest of Cincinnati, for $6.6 million. - See more at: http://rebusinessonline.com/marcus-millichap-brokers-6-6m-sale-of-153976-sf-shopping-center-in-southern-ohio/#sthash.zoGDO6Ls.dpuf

    Read More

    Marcus & Millichap Brokers $4.3M Sale of Retail Property in Cincinnati Suburb

    HAMILTON, OHIO — Marcus & Millichap has brokered the sale of a 200,720-square-foot retail property for $4.3 million.

    Read More
  • Dayton Mall-area strip center sold

    Home Center, a 81,438-square-foot retail property at 518 Miamisburg Centerville Road, has been sold, real estate investment services firm Marcus & Millichap said.

    Read More

    Marcus & Millichap sells 50,000-square-foot retail center in Ohio

    Marcus & Millichap has closed the sale of Massillon City Center, a 50,266-square-foot retail property in Massillon, Ohio. The retail center sold for $5.8 million. It features a mix of national, regional, and local retailers including, Buffalo Wild Wings, Verizon Wireless, and Rockne’s.

    Read More

    IPA Arranges $15.4M Sale of Shopping Center in South Euclid, Ohio

    Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $15.4 million sale of Cedar Center North, a 61,466-square-foot shopping plaza in the Cleveland suburb of South Euclid. IPA senior directors Erin Patton, Craig Fuller and Scott Wiles represented the seller, a local northeast Ohio development group. The buyer is Inland Real Estate Corp.

    Read More
  • $15.4 Million Suburban Cleveland Retail Sale Arranged by IPA

    Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce the sale of Cedar Center North, a 61,466-square-foot shopping plaza in the Cleveland suburb of South Euclid. IPA senior directors Erin Patton, Craig Fuller and Scott Wiles represented the seller, a local northeast Ohio development group. The buyer is Inland Real Estate Corp. The sale was subject to a loan assumption with the initial $15.4 million closing price excluding potential future earn-out payments to seller.

    Read More

    M&M Brokers $4.7M Sale of 29,400 SF Retail Property in Lancaster, Ohio

    Marcus & Millichap has brokered the $4.7 million sale of The Shops at Ety Village, a 29,400-square-foot retail property in Lancaster. C.J. Jackson, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Columbus and Cleveland offices marketed the property on behalf of the seller, a regional bank. Jackson, Patton, Wiles and Fuller also secured and represented the buyer, a private investor.

    Read More

    Marcus & Millichap sells 103,000-square-foot retail center in Ohio

    Marcus & Millichap has closed the sale of Mentor Plaza, a 103,910-square-foot retail property in Mentor, Ohio. The retail center sold for $5.44 million. Craig Fuller, Scott Wiles and Erin Patton, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listing to market the property on behalf of the seller, a private investment fund. The buyer, a limited liability company, was also secured and represented by Fuller, Wiles and Patton. Mentor Plaza is located at 8485 Market Street in Mentor. The center is anchored by Gabriel Brothers and Big Lots. - See more at: http://www.rejournals.com/2015/02/19/marcus-millichap-sells-103000-square-foot-retail-center-in-ohio/#sthash.hsV02kRN.dpuf

    Read More
  • Marcus & Millichap arrange sale of Taco Bell in Pa.

    Dustin Javitch, Craig Fuller, Scott Wiles and Erin E. Patton, investment specialists at the firm's Cleveland office, exclusively marketed the property on behalf of the seller, a limited liability company. Javitch, Fuller, Wiles and Patton assisted the the buyer, a private investor, in closing the transaction.

    Read More

    Marcus & Millichap sells grocery-anchored retail center in Akron

    Marcus & Millichap closed the sale of Harvest Plaza, a 75,866-square-foot retail property in Akron, Ohio. The plaza sold for $7.96 million. Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Fuller, Patton and Wiles also secured the Purchaser. Harvest Plaza is located at 2801 East Waterloo Road in Akron. The center is 100-percent occupied and anchored by Giant Eagle, the dominant Grocer in the market. - See more at: http://www.rejournals.com/2015/02/12/marcus-millichap-sells-grocery-anchored-retail-center-in-akron/#sthash.e2j1DF0D.dpuf

    Read More

    Marcus & Millichap sells 99,000-square-foot Kohl’s department store in Ohio

    Marcus & Millichap closed the sale of a 99,380-square foot Kohl’s department store in Westerville, Ohio. The store sold for $10.75 million, which equates to $108 a square foot. Dean Zang and Mark Taylor with Marcus & Millichap represented the buyer, SPMC Urban Properties. Craig Fuller, Scott Wiles and Erin Patton with Marcus & Millichap represented the seller, Garrison Central II LLC. The triple-net-leased commercial real estate asset is located directly off Interstate-270 in a shopping plaza with an Office Max and a Marc’s discount drugstore and grocery store. Other nearby retailers include Walmart, Kroger and Tuesday Morning. - See more at: http://www.rejournals.com/2015/02/05/marcus-millichap-sells-99000-square-foot-kohls-department-store-in-ohio/#sthash.2FiIat8h.dpuf

    Read More
  • Kohl’s in Westerville sells for $10.75M

    A Maryland-based investment firm has purchased the Kohl's department store building within the Westerville Plaza retail center. SPMC Urban Properties paid $10.75 million for the 99,380-square-foot department store, according to a news release from the Marcus & Millichap commercial brokerage that did the deal. The sale comes two years after seller Garrison Investment Group of New York City paid a combined $15 million for the 99,380-square-foot Kohl's and surrounding retail center. The center includes an Office Max store and a Marc's discount grocery store. The brokerage, in a news release, said the buyer bought the anchor retail property as part of a 1031, tax-deferred exchange. SPMC "was attracted to the asset because Kohl's continues to reinvest in this location and reports strong store sales," Dean Zang, first vice president of investments in Marcus & Millichap's Washington D.C. office, said in the news release. Zang and Philadelphia-based investment agent Mark Taylor represented the buyer. Marcus & Millichap agent Erin Patton in Columbus represented the seller along with Cleveland colleagues Craig Fuller and Scott Wiles. Garrison purchased the Westerville retail center and the Arlington Square retail property in early 2013 as part of a portfolio deal with Kimco Realty Corp. (NYSE:KIM) consisting of eight properties in Ohio and five in Indiana.

    Read More

    Marcus & Millichap sells Home Depot ground lease in Lafayette

    Marcus & Millichap recently sold a Home Depot ground lease, a 133,868-square-foot net-leased property located in Lafayette, Ind. The asset sold for $5.835 million. Craig Fuller, Scott Wiles and Erin Patton, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a limited liability company, was also secured and represented by Fuller, Wiles and Patton, in addition to Dustin Javitch. Josh Caruana, broker of record for Indiana, also assisted in this transaction. The Home Depot ground lease is located at 311 Sagamore Parkway N in Lafayette. Home Depot has about 12 years of term left on its lease, which is corporately guaranteed. This asset commanded multiple offers because of the quality of the tenant and the below-market rent.

    Read More

    Marcus & Millichap Launches IPA-Retail Division

    CALABASAS, CA—IPA first launched in 2010 to expand services for major investors in the multifamily sector. Now, this new retail division, which GlobeSt.com EXCLUSIVELY learns about, will be overseen by Bill Rose, VP and national director of Marcus & Millichap’s retail division.

    Read More
  • M&M Arranges $8.7M Sale of 140,918 SF Shopping Center in Mentor, Ohio

    MENTOR, OHIO — Marcus & Millichap has arranged the $8.7 million sale of Mentor City Shopping Center. The 140,918-square- foot retail property is located at 7845 Mentor Ave. in Mentor. Babies R Us, T.J. Maxx, Dollar Tree and Aldi anchor the shopping center, which was 96 percent occupied at the time of sale. Seth Richard of Marcus & Millichap’s Manhattan office and Laurie Ann Drinkwater of Marcus & Millichap’s Boston office, along with the firm’s retail team of Craig Fuller, Erin Patton and Scott Wiles, represented the New York-based seller. Wiles, Patton and Fuller also represented the undisclosed buyer.

    Read More

    Marcus & Millichap sells 90,000-square-foot retail center in Indiana

    Marcus & Millichap recently sold the Lafayette Shopping Center, a 90,500-square-foot retail center in Lafayette, Ind. The property sold for $4.825 million. Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Fuller, Wiles and Patton, too. Josh Caruana, Indiana broker of record, also assisted in this transaction.

    Read More

    Marcus & Millichap sells 38,000-square-foot Bed Bath & Beyond store in Indiana

    Marcus & Millichap recently closed the sale of Bed Bath & Beyond, a 38,042-square-foot net-leased property located in Mishawaka, Ind. The asset sold for $5.7 million. Craig Fuller, Erin Patton and Scott Wiles, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Fuller, Patton and Wiles. Josh Caruana, Indiana broker of record, also assisted in this transaction. Bed Bath and Beyond is located at 5802 Grape Road in Mishawaka. - See more at: http://www.rejournals.com/2014/10/31/marcus-millichap-sells-38000-square-foot-bed-bath-beyond-store-in-indiana/#sthash.pqhZGfiO.dpuf

    Read More
  • M&M Brokers $5.2M Sale of 48,300 SF Retail Property

    SPRINGDALE, OHIO —Marcus & Millichap has brokered the $5.2 million sale of a 48,300-square-foot retail property in Springdale, an area on the northeast side of Cincinnati. Wimbledons Plaza is located at 11770-11818 Springfield Pike. An Outback Steakhouse anchors the shopping center. Tenants include Penn Station, H&R Block, Select Staffing, Dairy Queen and other local and regional tenants. C.J. Jackson, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Columbus and Cleveland offices represented the seller, a regional owner and developer. Nathan Whalen of the firm’s Indianapolis office represented the buyer, a private investment group. - See more at: http://rebusinessonline.com/mm-brokers-5-2m-sale-of-48300-sf-retail-property/#sthash.55Kzeank.dpuf

    Read More

    Marcus & Millichap sells 20,000-square-foot retail center in Indiana

    Marcus & Millichap recently sold Clinton Plaza, a 20,008-square-foot retail property in Frankfort, Ind. The asset sold for more than $1 million. Erin Patton, Scott Wiles and Craig Fuller, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The three also secured the buyer. Josh Caruana, broker, assisted in closing this transaction. Clinton Plaza is located at 2401 E. Wabash St. in Frankfort, Ind. The sale of Clinton Plaza represents the 37th investment closing of the year for Patton, Wiles and Fuller. - See more at: http://www.rejournals.com/2014/10/02/marcus-millichap-sells-20000-square-foot-retail-center-in-indiana/#sthash.2HUakfqD.dpuf

    Read More

    M&M ARRANGES $1.7 M SALE OF 6,895 SF ADVANCE AUTO PARTS IN OHIO

    BELPRE, OHIO — Marcus & Millichap has arranged the $1.7 million sale of a 6,895-square-foot property in Belpre. The net-leased Advance Auto Parts property is located at 1218 Washington Blvd. The asset is a newer construction and has 14 years remaining on the corporately guaranteed lease. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap’s Columbus office listed the property on behalf of the seller, a limited liability company. A California-based buyer purchased the property in a 1031 tax-deferred exchange.

    Read More
  • Northeast Ohio shopping center market is booming

    Even before Golden Gate Shopping Center in Mayfield Heights changed hands for $47 million, investment sales analyst Alec Pacella told himself that the market for shopping center sales was “on fire” in Northeast Ohio.

    Read More

    Pavilion Shopping Center in Beachwood sold to private real estate investment trust

    Pavilion Shopping Center in Beachwood sold to private real estate investment trust

    Read More

    20 to Know in Commercial Real Estate - Erin Patton

    Tell us about the commercial real estate scene in the Columbus area this year. Are things looking better or worse, and in which sectors? There are lots of positive things going on here in Columbus. Not only are there new developments, such as Easton Gateway and the outlets up north, but you are starting to see increased space absorption have a meaningful impact on the ability to grow rent and backfill some of the existing vacancies in the market. Additionally, new retail concepts are coming to Columbus and having tremendous success, which is always very exciting and a good sign for the economy.

    Read More
  • Marcus & Millichap Real Estate Investment Services recently closed the sale of Discount Drug Mart Center, a 31,762-square-foot retail property located in Kent, Ohio.

    Marcus & Millichap Real Estate Investment Services recently closed the sale of Discount Drug Mart Center, a 31,762-square-foot retail property located in Kent, Ohio. The asset sold for $2.85 million. Erin Patton, Scott Wiles a Craig Fuller, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured by Patton, Wiles and Fuller. Discount Drug Mart Center is located at 1763 East Main St. in Kent. The property is 100-percent occupied and currently anchored by Discount Drug Mart as the dominant tenant. Discount Drug Mart Center in Kent represents Patton, Wiles & Fuller’s 10th investment sale closing of 2014. - See more at: http://www.rejournals.com/2014/03/06/marcus-millichap-sells-31000-square-foot-retail-center-in-ohio/#sthash.UY4GXL3p.dpuf

    Read More

    LOWE’S GROUND LEASE IN CINCINNATI SELLS FOR $14.3M

    CINCINNATI — Marcus & Millichap has arranged the $14.3 million sale of a 138,445-square-foot Lowe’s Home Improvement store ground lease in Cincinnati. The sale price equates to $103 per square foot. Craig Fuller, senior associate, and Scott Wiles, vice president of investments in Marcus & Millichap’s Cleveland office and Erin Patton, a vice president of investments in the firm’s Columbus office, represented the seller, a New York-based investment fund. Fuller, Wiles and Patton also represented the buyer, a national real estate investment trust. The home improvement store is located at 5385 Ridge Ave. and has 8.5 years remaining on the ground lease.

    Read More

    M&M ARRANGES $2.4M SALE OF 189,996 SF RETAIL PROPERTY

    WARREN, OHIO – Marcus & Millichap has arranged the $2.4 million sale of Trumbull Plaza, a 189,996-square-foot retail property located in Warren, a city in northeast Ohio. Erin Patton, Scott Wile, and Craig Fuller investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, marketed the property on behalf of the seller, a developer, and represented the buyer, a limited liability company, in the transaction. Trumbull Plaza is located at Parkman Road and Route 422. Kmart and Sparkle Market are the two largest tenants at the center. - See more at: http://www.rebusinessonline.com/main.cfm?

    Read More
  • Marcus & Millichap Real Estate Investment Services recently closed the sale of Trumbull Plaza, a 189,996-square-foot retail property located in Warren, Ohio.

    Erin Patton, Scott Wiles and Craig Fuller, investment specialists in Marcus & Millichap’s Columbus and Cleveland offices, had the exclusive listing to market the property on behalf of the seller, a developer. The buyer, a limited liability company, was also secured and represented by Patton, Wiles and Fuller.

    Read More

    Marcus & Millichap sells 95,000-square-foot shopping center near Cleveland

    Marcus & Millichap Real Estate Investment Services recently closed the sale of the North Olmsted Towne Center, a 95,446-square-foot shopping center located along Brookpark Road in North Olmsted, Ohio, about 17 miles southwest of Cleveland. The $17.79 million sales price equates to $186 a square foot. Scott Wiles and Craig Fuller in Marcus & Millichap’s Cleveland office, along with Erin Patton in the firm’s Columbus office, represented the seller, a local Cleveland investment group. Wiles, Fuller, Patton and Dustin Javitch, who is also in the Cleveland office, advised the buyer, an out-of-state private investor. - See more at: http://www.rejournals.com/2013/12/30/marcus-millichap-sells-95000-square-foot-shopping-center-near-cleveland/#sthash.TnZ8RDBg.dpuf

    Read More

    Simon sells The Terrace at Florida Mall

    The country's largest real estate investment trust, Simon Properties Inc., has sold a shopping center next to Florida Mall for $8.25 million.

    Read More
  • Devonshire REIT Purchases Delhi Shopping Center

    Devonshire REIT purchased the 134,973-square-foot Delhi Shopping Center from Todds Enterprises for $4.5 million, or about $33 per square foot. Both companies are based in Ohio. Devonshire REIT specifically focuses on "high cash flow properties in non-major markets" in the United States. The shopping center is 88 percent leased with tenants including Remkes and Aldi. Scott Wiles, Craig Fuller, Erin Patton and CJ Jackson of Marcus & Millichap brokered the deal, representing both sides.

    Read More

    Marcus & Millichap closes sale of 147,000-square-foot Sam’s Club in Ohio

    Marcus & Millichap Real Estate Investment Services arranged the all-cash sale of a 147,771-square-foot free-standing, triple-net leased Sam’s Club located in Brooklyn, Ohio. The sales price of more than $21 million equals $145 a square foot. A Sam’s Club Fuel Center outparcel was included in the sale. Scott Wiles, a vice president of investments in Marcus & Millichap’s Cleveland office, along with Erin Patton, a vice president of investments in the firm’s Columbus office, and Craig Fuller, a senior associate in the Cleveland office, represented the seller, a northeast Ohio-based limited liability company. “This asset received a great deal of attention from across the investor continuum,” said Wiles, in a written statement. “Ever-increasing numbers of local investors and out-of-state buyers are focusing their acquisition needs on credit driven triple-net investments such as this one.”

    Read More

    Marcus & Millichap Real Estate Investment Services arranged the all-cash sale of a 147,771-square-foot free-standing, triple-net leased Sam’s Club located in Brooklyn, Ohio.

    Marcus & Millichap Real Estate Investment Services arranged the all-cash sale of a 147,771-square-foot free-standing, triple-net leased Sam’s Club located in Brooklyn, Ohio. The sales price of more than $21 million equals $145 a square foot. A Sam’s Club Fuel Center outparcel was included in the sale. Scott Wiles, a vice president of investments in Marcus & Millichap’s Cleveland office, along with Erin Patton, a vice president of investments in the firm’s Columbus office, and Craig Fuller, a senior associate in the Cleveland office, represented the seller, a northeast Ohio-based limited liability company. “This asset received a great deal of attention from across the investor continuum,” said Wiles, in a written statement. “Ever-increasing numbers of local investors and out-of-state buyers are focusing their acquisition needs on credit driven triple-net investments such as this one.” - See more at: http://www.rejournals.com/2013/07/08/marcus-millichap-closes-sale-of-147000-square-foot-sams-club-in-ohio/#sthash.OnVaKAcE.dpuf

    Read More
  • Marcus & Millichap sells 89,000-square-foot retail center in suburb of Cincinnati

    Marcus & Millichap Real Estate Investment Services recently closed the sale of Village Crossings, an 89,008-square-foot retail property in the Cincinnati suburb of Evendale, Ohio. The shopping center sold for $6.275 million. C.J. Jackson, Erin Patton, Craig Fuller and Scott Wiles, investment specialists in Marcus’ Columbus office, had the exclusive listing to market the property for the seller, a local development company. The Marcus & Millichap specialists also secured the buyer,a private fund.

    Read More

    Marcus & Millichap sells 11 properties in Ohio and Pennsylvania

    Marcus & Millichap Real Estate Investment Services recently sold 11 investment properties located in Ohio and Pennsylvania. The property sales took place over 10 days and commanded sales prices totaling $18.3 million. Notable properties among the group include a Best Buy ground lease in Avon, Ohio; a five-property Citizens Bank portfolio; and numerous multi-tenant shopping centers throughout the state of Ohio and eastern Pennsylvania. Scott Wiles, Craig Fuller and Erin Patton, investment specialists in Marcus & Millichap’s Cleveland and Columbus offices, had the exclusive listings to market the properties on behalf of the Sellers for all properties, excluding College Hill Plaza for which they represented the Purchaser.

    Read More

    Mentor Industrial Portfolio Fetches $4.7 Million

    FR Progress Parkway LLC acquired two industrial buildings in Mentor, OH, from O F Associates for $4.65 million or $68 per square foot. The two properties, which are located within 1 mile of one another, were both delivered in 1989 and 1990. The structures are 42,500 square feet and 25,900 square feet, according to CoStar information. They are in the Mentor/North Willoughby Industrial submarket. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller. Ryan E. Moore of the same brokerage represented both sides. Please see CoStar COMPS #2709223 for more information on this transaction.

    Read More
  • Pittsburgh Firm Buys Garfield Mall for $5.7 Million

    Glimcher Group Inc., a Pittsburgh, PA-based commercial brokerage firm, acquired Garfield Mall in Cleveland, OH, from J&J Slyman LLC for $5.7 million, or about $23 per square foot. The property was purchased through a court-appointed sale.

    Read More

    Marcus & Millichap promotes eight Midwest agents to VP positions

    Marcus & Millichap Real Estate Investment Services recently promoted eight Midwest agents to vice president of investments. This designation recognizes superior achievement by an associate during his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession.

    Read More

    Marcus & Millichap promotes associate in Columbus office to vice president of investments

    Marcus & Millichap Real Estate Investment Services recently promoted Erin Patton of its Columbus, Ohio, office to associate vice president of investments. This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships. Most recently, Patton held the title of senior associate. Patton began her career with Marcus & Millichap in November 2004 and was named senior associate in November 2007. She specializes in the sale of retail and net-leased real estate and has received three sales recognition awards from the firm.

    Read More
  • Investor Purchases Munhall Square II for $3.1M

    Center Associates Realty Corporation sold the Munhall II Shopping Center to Gordon Real Estate Company, Inc. for $3.05 million, or about $81 per square foot. The property is a 37,720-square-foot retail shopping center that was constructed in 2005 on 3.7 acres. The center consists of three smaller retail businesses and Big Lots as the anchor tenant, and was fully leased at the time of sale. Scott Wiles, Erin Patton, and Craig Fuller of Marcus & Millichap represented the seller in the sale. The buyer was represented in-house.

    Read More

    Marcus & Millichap Handles Exchange of Office and Retail Complex

    TNP Strategic Retail Trust Inc., an Irvine, CA-based REIT, acquired the Aurora Commons office and retail complex in Aurora, OH, from H&S Co. Ltd. for $7 million, or about $82 per square foot. The Aurora Commons complex includes a retail center at 300 Aurora Commons Circle and an office building at 251 W. Garfield. Marc's, a local discount store, is the anchor tenant in the retail center. The two buildings total an area of approximately 85,000 square feet. Marcus & Millichap's Erin Patton, Scott Wiles, Craig Fuller, Simon Jonna and Brandon Hanna represented both parties.

    Read More

    Regional retailing vacancies fill slowly

    The number of vacant stores in Columbus could reach a five-year low in 2012, but the reasons don’t exactly add up to good news. The prediction is included in a report, by Marcus & Millichap Real Estate Investment Services, which attributes the shrinking vacancies to several factors. Tops among them: Retailers are still slowly filling up space that was built before the recession. At the same time, the report says, construction of new retail space is expected to remain well below the historical average. Right now, real-estate companies are focused on filling spaces vacated by other retailers, said Erin Patton, director of the national retail group for Marcus & Millichap. “That’s really a trend you’ll see nationwide,” Patton said. “It’s not necessarily a bad thing, because of the market we’re coming out of. We lost a lot of different stores, a lot of concepts, that couldn’t keep up with their rent. It’s a very good thing to stabilize the retail real-estate market.” The expectation of below-average new construction doesn’t surprise one commercial real-estate veteran. “Columbus is actually kind of over-retailed,” said Rob Click, senior managing director of CBRE Brokerage Services. “We have a very significant amount of retail space for our population. The number of bodies can just support only so much retail.” Many of the large retailers that recently signed leases in central Ohio have chosen areas with healthy population growth and relatively high household incomes, including Polaris, Easton and Westerville. Last week, for example, the outdoor retailer Cabela’s announced that it will open an 80,000-square-foot store — its first in Ohio — in the Polaris area.

    Read More
  • Retail resurgence gaining strength in Central Ohio

    Central Ohio’s retail real estate market is poised for a healthy showing in 2012. Rents and leases with merchants are stabilizing, and a slowdown in construction means the region’s glut of vacant space is being sopped up by single stores. At the same time, national retailers such as Wal-Mart Stores Inc. , Menard Inc. and Cabela’s Inc. will bring new stores to the region. “I do think there is an inaccurate sentiment out there that retail is still lagging,” said Erin Patton, national retail group director for broker Marcus & Millichap . “Because we’ve seen a pull-back in construction, it really is a good thing for the market conditions we are coming out of. We’ve been able to easily backfill vacancies and stabilize the existing tenant base.” Columbus expects to see a retail vacancy rate of 10.2 percent in 2012 – a five-year low, says research from Marcus & Millichap. By contrast, Cincinnati expects a vacancy rate of 12.8 percent; Cleveland forecasts 12.2 percent. There has been nominal growth in rents, too, for the past three years. Central Ohio retail space can expect to command an average asking rent of $12.22 a square foot in 2012, up 0.8 percent from the prior year which makes plazas more attractive to a wider range of merchants. The improving conditions are being helped by national retailers coming off the sidelines to open more stores and investors willing to pay for top properties occupied by the most creditworthy retailers with long leases, Patton said. The way Franz Geiger sees it, the Columbus area is returning to normalcy. “There is an uptick, but the deals are different than they used to be,” said the managing director of NP Ltd., developer of the sprawling Polaris Centers of Commerce , which is home to the 1.6 million square-foot Polaris Fashion Place mall. “Now, the expectation is for the landlord to provide a lot more in terms of tenant improvements and less rent.”

    Read More

    Marcus & Millichap Real Estate Investment Services recently completed the sale of The Shoppes at Town & Country, a 15,311-square-foot retail property located in Columbus.

    Marcus & Millichap Real Estate Investment Services recently completed the sale of The Shoppes at Town & Country, a 15,311-square-foot retail property located in Columbus. The asset commanded a sales price of $1.1 million. Erin Patton, Scott Wiles and Antoine Matthews, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a developer. The Shoppes at Town & Country is currently 100 percent occupied with three tenants.

    Read More

    CMN Quinlan Pays $1.325M For Hilliard Plaza

    CMN Quinlan acquired the single-story Hilliard Plaza in Hilliard, OH, from Chuck Warner of Chuck Warner & Associates for $1,325,000, or about $110 per square foot. The shopping center building was delivered in 1974 to 5054-5068 Cemetery Road. It totals 12,000 square feet and tenants include Family Chiropractic and Active Travel, according to CoStar information. The buyer was self-represented in this transaction, while Antoine Matthews, Scott Wiles and Erin Patton of Marcus & Millichap represented the seller.

    Read More
  • Marcus & Millichap Negotiates $10M Sale of Pennsylvania Shopping Center

    Marcus & Millichap Real Estate Investment Services negotiated the sale of the Shoppes at Adams Ridge, a 49,060-square-foot grocery-anchored shopping center in Mars, Pa. for $10.08 million. The price works out to $205 per square foot. The Shoppes at Adams Ridge includes a 41,837-square-foot building and two out parcels housing a 3,723-square-foot Dairy Queen and a 3,500-square-foot Citizens Bank. McGinnis Sisters, a specialty grocery store, anchors the property. The center was built in 2008. Steven J. Siegel, of Marcus & Millichap’s Manhattan office, represented the seller in the transaction. Erin Patton, Scott Wiles and Craig Fuller, from Columbus and Cleveland, Ohio offices, represented the buyer. Spencer Yablon, of Marcus & Millichap’s Philadelphia office, also provided representation.

    Read More

    Shopping Plaza in Willoughby Trades for $2.5 Million

    Lakewest Plaza Holdings LLC, an investment group, purchased the retail center at 35535 Euclid Ave. in Willoughby, OH, from North Coast Properties for $2.55 million, or about $124 per square foot. The 20,514-square-foot building was constructed in 1986. There were several tenants occupying space in the plaza during time of sale. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented North Coast Properties, while Lakewest Plaza Holdings LLC was self-represented.

    Read More

    CoStar Power Broker Award Winners 2010

    CoStar Announces its top investment sales brokers for 2010

    Read More
  • M&M Brokers Sale of Five-Property Portfolio

    Marcus & Millichap Real Estate Investment Services, brokered the sale of a five-property Office Max/Office Depot portfolio located in Minnesota, West Virginia and Michigan. The sales price was approximately $11.5 million. James Stonehill and Scott Wiles in Marcus & Millichap's Cleveland office and Erin Patton in the firm's Columbus office represented the seller, a local developer. Barry Wolfe, a vice president investments in Fort Lauderdale, represented the buyer, Kin Properties Inc. of Boca Raton, Fla. Ralph Nash of Old Spruce Realty in West Virginia, Solomon Poretsky in Marcus & Millichap's Minnesota office and Jonathon Dwoskin in the firm's Detroit office, also provided representation. The properties are: Office Max, 23,500 square feet, Alexandria, Minn. Office Max, 23,525 square feet, Brainerd, Minn. Office Max, 23,503 square feet, Mankato, Minn. Office Max, 23,620 square feet, Martinsburg, W.Va. Office Depot, 24,000 square feet, Traverse City, Mich.

    Read More

    Marcus & Millichap Arranges Sale of Ohio Restaurant Building

    Marcus & Millichap Real Estate Investment Services recently sold a 4,320-square-foot building leased to an Applebee's restaurant in Alliance, Ohio. The asset commanded a sales price of more than $2 million, which equates to $475 a square foot. John Talbot, Scott Wiles and Craig Fuller in Marcus & Millichap's Cleveland office, and Erin Patton in the firm's Columbus office, arranged the sale.

    Read More

    Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap Assist in Sale of Texas Shopping Center

    With the help of the company's Cleveland and Columbus offices, Marcus & Millichap Real Estate Investment Services recently brokered the sale of Waxahachie Crossing, a 96,983-square-foot shopping center in Waxahachie, Texas.

    Read More
  • Retail-property recovery predicted in area

    Retail real estate in Columbus is expected to gradually become more attractive to investors this year. However, Columbus and other Ohio cities are expected to recover from the recession more slowly than cities elsewhere, according to a new forecast.

    Read More

    CoStar Power Broker Award Winners 2009

    CoStar Announces its top investment sales brokers for 2009

    Read More

    213,785-SQUARE-FOOT ASHLAND SQUARE RETAIL CENTER SELLS

    ASHLAND, OHIO — Ashland Square, a 213,785-square-foot retail center located in Ashland, has been sold.

    Read More
  • Snowville Plaza sells for $2.1 million

    A New York investor has purchased Snowville Plaza in Parma for $2.1 million, according to property records. JDS Snowville Center LLC, a Cleveland investor, sold the shopping center to 13 Associates LLC.

    Read More

    CoStar Power Broker Award Winners 2008

    CoStar Announces its top investment sales brokers for 2008

    Read More

    MARCUS & MILLICHAP BROKERS SALE OF 128,028-SQUARE-FOOT RETAIL CENTER

    KENT, OHIO — Marcus & Millichap has brokered the sale of University Plaza, a 128,028-square-foot retail center located at Cherry and South Water streets in Kent.

    Read More
  • MARCUS & MILLICHAP BROKERS $1.85 MILLION SALE OF STRIP CENTER

    PICKERINGTON, OHIO — Marcus & Millichap Real Estate Investment Services has brokered the sale of Cross Creek Shopping Center, a retail center located on Crosscreeks Boulevard in Pickerington.

    Read More

    CoStar Power Broker Award Winners 2007

    CoStar Announces its top investment sales brokers for 2007

    Read More

    3 Drug Mart plazas find buyers

    Local retail real estate investor Spielberger Properties Ltd. has sold a portfolio of three Discount Drug Mart-anchored shopping centers for $11.2 million. The buyer, SRC Investment Corp., then sold the properties -- a combined 101,845 square feet in Parma Heights, Upper Sandusky and Wadsworth, to individual companies: Drug Mart Plaza U.S and P.H. LLC, Drug Mart Holdings LLC and Wadsworth Investment Ltd.

    Read More
  • Maple retail center fetches $6.3 million

    The Maple Leaf Square Shopping Center, a PetSmart-anchored shopping center at 5448 Warrensville Center Road in Maple Heights, has changed hands. West Maps Realty LLC of New York has bought the 50,000-square-foot property from JDS Cleveland's Maple Leaf Square LLC for about $6.3 million.

    Read More