A prominent industrial deal handled by Stream Capital Partners and an office disposition arranged by Reichle | Klein Group are among the top second-quarter property sales recognized by CoStar. As big-ticket items involving sizable investments, commercial property transactions often have a wider impact within the local community. CoStar recognized the largest deals completed during the second quarter in their respective markets.
TOP SALE: 1007 Illinois Ave. and 425 W. Sophia St., Maumee, OH
The two industrial facilities at 1007 Illinois Avenue and 425 West Sophia Street, totaling 121,768 square feet, sold for $10,432,000 or $85.67 per square foot. The West Sophia Street property was built in 1963 with M-1 zoning and 1007 Illinois Avenue was built in 1997 with M-2 zoning. Year 1 net operating income was said to be $772,000, yielding an actual cap rate of 7.4%. Daniel Macks and Phil DiGennaro of Stream Capital Partners represented the seller.
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