Matthews Real Estate Investment Services, a leading commercial real estate investment and technology firm, has successfully closed the sale of Pavilion Shopping Center in Beachwood, Ohio for $31.55 million. This transaction marks the second-largest retail plaza sale in Ohio this year and was facilitated by Executive Vice President Ben Snyder, Associate Vice President Zachary Bates, and Market Leader Matthew Wallace on behalf of the seller.
Situated on 17 acres of land with 207,000 square feet of leasable space, Pavilion Shopping Center boasts a fully occupied tenant roster consisting of 19 tenants including popular retailers such as Giant Eagle and Ross Dress for Less. The buyer Marquee Capital saw great potential in acquiring this high-quality open-air shopping center at attractive risk-adjusted returns. According to Snyder: “Our long-standing relationship with the seller allowed us to facilitate their exit from the market seamlessly.”
This record-breaking sale further solidifies Matthews’ expertise in handling complex commercial real estate transactions across various markets nationwide.
