Marquee Capital Acquires Pavilion Shopping Center In Moreland Hills For $31.5M
24055 Chagrin Boulevard
$31,500,000
$152/SF
Building Size
207,000 SF
Asset Type
Retail
Closing
Nov 21, 2023
AI
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
Beachwood Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93