CINCINNATI, Ohio, November 13, 2012, X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, announced today that Cincinnati, Ohio-based partner Edge Real Estate Group (Edge) represented USS Realty, LLC in the sale of six acres to Net Lease Realty | Inc. for a 14-screen Cinemark—the first of its kind in southern Ohio. X Team International Partner Mike Halonen of Edge Real Estate Group made the announcement.
Situated at the corner of Disney Street and West Lane, the six-acre tract of land is located at Oakley Station, the newest mixed-use development in Cincinnati featuring a variety of office space, retail shopping and restaurants, as well as multi-family apartments. Formerly occupied by the Cincinnati Milacron Machine Tool Company, this 74-acre site sits on the east side of I-71 and Ridge Road, adjacent to the Target-anchored Center of Cincinnati. Net Lease Realty | Inc. has already begun construction on the six acres and will lease the building to Cinemark Theatres, which is slated to open in the fall of 2013.
Melissa Ruther and Mike Halonen of Edge Real Estate Group represented the seller, USS Realty, LLC. The buyer, Net Lease Realty | Inc. represented themselves. Terms of the deal were not disclosed.
“Cinemark recognized that Oakley Station is strategically positioned to provide access to the long-underserved consumers in the heart of the Cincinnati metropolitan area,” said Halonen. “By constructing a new theatre, Cinemark is showing a long-term commitment to an area that continues to flourish and attract big-name retailers.”
To download a photo of the Oakley Station Cinemark, please click below.
About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services, property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
About Edge Real Estate Group
Edge Real Estate Group is a full-service boutique, retail and restaurant tenant representation, commercial brokerage and development company. Edge offers a wide range of products and services designed to best serve the needs of the client. Services offered include tenant representation, project leasing, build to suite development, property disposition and market research. For more information, please visit www.edgegp.com.