Lima Tov, LLC Purchases Lima Center Shopping Center For $19.5M With Eastern Union's Financing

The property asset involved is a grocery-anchored retail center located at 2720 Elida Road, Lima, OH, encompassing a total of 174,078 square feet on a 22.55-acre site. The shopping center was acquired for $19.5 million and is fully leased to notable tenants, including Kohl’s, TJ Maxx, Five Below, and Dollar Tree.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $19,500,000
• Loan Amount: $12,967,500
• Loan Terms: seven-year, fixed-rate
• Landlord: Lima Tov, LLC
• Brokers: Jack Beida, Michael Muller & Mike Orlik - Eastern Union

This transaction was facilitated by Eastern Union, which arranged the financing for Lima Tov, LLC's acquisition of the Lima Center shopping center. The financing secured is backed by a seven-year fixed-rate mortgage, contributing to the operational stability of the fully leased asset.