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

Property Image
SOLD
$13,800,000
Michael Nieder
Brian Page

Ohio

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Retail147,602 SF
Sold 09/23/2025
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Property Image
SOLD

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

21929 Lorain Road

See Similar Deals
Retail147,602 SF
Sold 09/23/2025
Michael Nieder
Brian Page
the dealplayerscompscontact
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Summary

OHIO
Asset Type:Retail
Price Per Square Foot:$93
Total Square Footage:147,602 SF
Transaction Type:Sale

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.

Players

Michael Nieder
JLL
Michael Nieder
17 deals$419.6M volume(312) 300-7300
BROKER
Brian Page
JLL
Brian Page
4 deals$57.8M volume(312) 782-5800
BROKER
JLL
JLL
BROKERAGE
LC
Lamar Companies
SELLER

Details

SOLD
IMAGE: 09/23/2025 ADDRESS: 21593-21929 Lorain Road MARKET: Fairview Park, OH ASSET TYPE: Retail BUYER: Axiom Realty SELLER: Lamar Companies BROKERS: Michael Nieder & Brian Page - JLL SALE PRICE: $13,800,000 SF: 147,602 ~ PPSF: $93 NOTE: JLL Capital Markets arranged the $13.8M sale of Fairview Centre, a 147,602-square-foot shopping center in Fairview Park, OH. Lamar Cos. sold the nearly 90% leased, Giant Eagle–anchored property to Axiom Realty, with JLL’s Michael Nieder and Brian Page representing the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$736,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,028.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,419.04
Annual Debt Service$785,028.49