Farmington Hills, Michigan (July 26, 2017) – Friedman Integrated Real Estate Solutions, one of the nation’s leading providers of commercial real estate services, recently sold a 120,000 square-foot former Walmart located at 149 Midway Blvd, in Elyria, Ohio. The property was sold through auction (Ten-X.com). The seller, River Street Realty LLC, sold the building to Di Fiore Family Properties, LLC, the owner of Car Parts Warehouse based in Brook Park, Ohio.
“The acquisition market for vacant big boxes continues to increase nationwide as leases for existing traditional tenants expire or businesses close,” said Steven Silverman. “There has been tremendous interest for vacant boxes with substantial land acreage and parking available from alternative users including self-storage, call centers, warehouse/distribution, medical, office, and discount retailers. Accordingly, we foresee exponential growth in the buy/sell side market for vacant big boxes in both the short and long term, especially in infill areas.”
The Friedman Retail Team specializes in the re-purposing, re-development and disposition of big box properties throughout the Midwest and nationwide. Steven Silverman, Investment Advisory & Brokerage Services at Friedman represented the seller in this transaction.
ABOUT FRIEDMAN INTEGRATED REAL ESTATE SOLUTIONS
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Integrated Real Estate Solutions provides clients with a single point of contact for the full range of Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 10,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.
For more information, please visit: www.friedmanrealestate.com.
