September Closed Transactions
September brought a surge of activity for our brokerage which closed 26 transactions equating to 324,211 square feet.
Once again, office was the most active asset class, accounting for nearly half of all transactions for the month. In the month’s largest transaction by volume, the Office Brokerage Group of Matt Gregory, SIOR, CCIM and Philip Bird, SIOR represented the landlord, Healthcare Realty Trust in bringing on a new tenant, Outreach and Crisis Counseling Services LLC to 515 E. Main Street where it will lease 8,721 square feet.
Matt Gregory, SIOR, CCIM, Mitchell Moore, and Philip Bird, SIOR also represented the seller, Volunteers of America, in the month’s largest retail transaction. Volunteers of America sold its 15,414-square-foot retail building at 4280 Macsway Avenue. Overall, their team oversaw 48% of the month’s activity.
Doug Shull and Joe Menninger, CCIM had the highest value industrial transaction of the month with the sale of Plant 2 and the adjacent parcel of 26 acres at Heartland Commerce Park in Mount Vernon. Georgia-based Airco Industrial Services specializes in fireproof coatings for industrial steel and is expanding into the region. The company plans to create more than 100 jobs in its first year and another 100 jobs by year three. Industrial transactions made up roughly 30% of the month’s activity.
In the month’s largest land deal, Kim Benincasa represented both the seller, The Muskingum County Community Foundation, and the buyer, Steve Layman of Leasure Farm Development. Leasure Farm will redevelop more than 74 acres of Zanesville farmland into housing, a term stipulated by the Foundation to help address the area’s need.
