Shopping Complex in Strongsville Sold for $1.65M

February 01, 2011 / Elizabeth Buckley, Commercial Property Analyst

Cleveland- based Cooper Commercial Investment Group— a real estate company specializing in brokering the sale of commercial real estate properties throughout the United States, has recently sold a shopping complex in Strongsville— a city in Cuyahoga County, Ohio. Located at 14375 Pearl Road, the shopping complex, Strongsville Pointe was acquired by Westlake Village, California- based BOAS LLC— a private investor, according to public records in Cuyahoga county.

Shopping Complex in Strongsville Sold for $1.65M

The shopping complex is situated in an affluent suburb community in Cleveland with about 41,109- square- foot area.

Vice president of Cooper Commercial Investment Group, Bob Havasi said, his company offered the new owner, BOAS, an upside potential by offering the shopping complex at a low- price per square foot.

According to public records in the county, the shopping complex is bought by BOAS for about $1.65 million, or $40.23 per square foot.

Havasi, as vice president and broker, represented the seller, Cooper Commercial Investment in the transaction.

Major anchor tenants in the shopping center include Boston Market— a chain of American fast- food casual restaurants. The shopping center also serve as a home to Dollar Bank— a full service, regional bank, and Taco Bell— an American restaurant chain based in Irvine, California, which specializes in Mexican-style food.

The president of Coral, Peter Rubin, was not available for comments regarding the transaction.

Strongsville Pointe was constructed in 1989. It was Mr. Rubin’s first shopping center development after launching Cooper Commercial Investment Group.

The sale transaction of the shopping complex, between the seller and the buyer was closed January 28, 2011, Friday.

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