AS SEEN ON
2nd Largest Shopping Center Transaction in the State of Ohio YTD 2023
Cleveland — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $31,555,000 sale of Pavilion Shopping Center located at 24055 Chagrin Boulevard, Beachwood, Ohio. The Pavilion Shopping Center is the 2nd largest shopping center transaction in the state of Ohio in 2023. Executive VP Ben Snyder, Associate VP Zachary Bates and Market Leader Matthew Wallace represented the seller in the transaction.
“With the help of the Matthews™ platform, we were able to maximize exposure, creating a competitive process that produced double-digit qualified offers,” said Snyder. “Matthews has had a long-term relationship with the seller who was looking to exit the market.”
The shopping center is on 17 acres of land with 207,000 square feet of leasable area and is 100% occupied by 19 tenants. Current tenants include Giant Eagle, Ross Dress for Less, Big Lots, Michaels, and others.
“Through the Matthews™ database, we were able to find a qualified buyer that executed,” said Snyder. “Marquee Capital purchased the shopping center as they begin to focus on acquiring high-quality open-air shopping centers at attractive risk-adjusted returns.”
For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
Recent Media & Thought Leadership