Axiom Realty Acquires Fairview Centre Retail Property From Lamar Companies For $13.8M

The retail asset involved in the transaction is a shopping center located at 21593-21929 Lorain Road in Fairview Park, OH. The property has a total square footage of 147,602 and was sold for $13,800,000, translating to a price per square foot of $93. The property is nearly 90% leased and is anchored by Giant Eagle.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,800,000
• Address: 21593-21929 Lorain Road
• Market: Fairview Park, OH
• Square Footage: 147,602
• Price Per Square Foot: $93
• Buyer: Axiom Realty
• Seller: Lamar Companies
• Brokers: Michael Nieder & Brian Page - JLL

JLL Capital Markets facilitated the transaction, representing the seller, Lamar Companies, in the sale of the property to Axiom Realty. The deal highlights the involvement of brokers Michael Nieder and Brian Page from JLL, who played a key role in navigating the sale process for the seller.