Challenge

Located in the heart of Cleveland, Ohio, the Uptown Solon shopping center is within a five-mile radius of over 100,000 people, with average household incomes exceeding $111,000. Through a previous relationship, Matthews™ connected with the sellers. The Uptown Solon Shopping Center had 61,158 square feet of vacant space; thus, the agents positioned the property as a value-add opportunity.

Strategy

Through the company’s proprietary technology, expansive database, and nationwide reach, Matthews™ successfully sourced a buyer for the shopping center. United Growth, a fully integrated development service and investment company from the west coast, purchased the property for its value-add and redevelopment opportunities.

Results

With the agent’s expertise and dedication, Matthews™ was successful in meeting the seller’s expectations. This transaction was one of the seven multi-retail sales in the state of Ohio with a purchase price greater than $10 million since the pandemic’s onset, according to CoStar.