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Marquee Capital Acquires Pavilion Shopping Center In Moreland Hills For $31.5M

Property Image
SOLD
$31,500,000
Zack Bates
Ben Snyder
Matthew Wallace

Ohio

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Retail207,000 SF
Sold 11/21/2023
the dealplayerscompscontact
Property Image
SOLD

Marquee Capital Acquires Pavilion Shopping Center In Moreland Hills For $31.5M

24055 Chagrin Boulevard

See Similar Deals
Retail207,000 SF
Sold 11/21/2023
Zack Bates
Ben Snyder
Matthew Wallace
the dealplayerscompscontact
Contact now

Summary

OHIO
Asset Type:Retail
Price Per Square Foot:$152
Total Square Footage:207,000 SF
Transaction Type:Sale

Matthews Real Estate Investment Services facilitated the $31.5 million sale of Pavilion Shopping Center located at 24055 Chagrin Boulevard in Moreland Hills, OH. The retail property spans 207,000 square feet and was sold at a price of $152 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $31,500,000
  • Property Address: 24055 Chagrin Boulevard, Moreland Hills, OH
  • Market: Moreland Hills, OH
  • Buyer: Jay Peirick - Marquee Capital
  • Brokers: Ben Snyder, Matthew Wallace & Zack Bates - Matthews Real Estate Investment Services

The sale of Pavilion Shopping Center was facilitated by Matthews Real Estate Investment Services. The deal was concluded on November 21, 2023.

NOTE: Matthews Real Estate Investment Services facilitated the $31.5 million sale of Pavilion Shopping Center in Beachwood, a suburb of Cleveland.

Players

Ben Snyder
Matthews
Ben Snyder
11 deals$118.1M volume
BROKER
Zack Bates
Matthews
Zack Bates
4 deals$75.4M volume
BROKER
Matthew Wallace
Matthews
Matthew Wallace
1 deal$31.5M volume(216) 215-8991
BROKER

Details

SOLD
IMAGE: Jay Peirick, Ben Snyder, Matthew Wallace & Zack Bates DATE: 11/21/2023 ADDRESS: 24055 Chagrin Boulevard MARKET: Moreland Hills, OH ASSET TYPE: Retail BUYER: Jay Peirick - Marquee Capital BROKERS: Ben Snyder, Matthew Wallace & Zack Bates - Matthews Real Estate Investment Services SALE PRICE: $31,500,000 SF: 207,000 ~ PPSF: $152 NOTE: Matthews Real Estate Investment Services facilitated the $31.5 million sale of Pavilion Shopping Center in Beachwood, a suburb of Cleveland.

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

$1,680,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85