The buyer, a private investor based out of New York City, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap’s Las Vegas office. Michael Glass, broker, assisted in closing this transaction.

This property has more than 25 years remaining on its primary lease term. CVS recently renewed its lease and extended the term from four years to 25 years with five, five-year renewal options.

This is a proven location for CVS as evidenced by its recent extension and a superior rent-to-sales ratio. CVS has been at this location since 1996, and the recent extension solidifies CVS’ presence through 2037. Nearby retailers include Target, Home Depot, Lowe’s, Kmart and Burlington Coat Factory.

New board members include Brian Graham, chapter president, with Colliers International; Josh Gerth, chapter vice president with Jones Lang Lasalle; Denice Hertlein, chapter treasurer with Clark Schaefer Hackett; and Jerry O’Connell, chapter secretary with Graydon Head.

The chapter’s 2012 trustees are Kevin Smith, Adam Hemmer, Steve Brandt, Charlie Pond, Rich Hughes, Jerry Royce, James Devanney, Vanessa Wong and Shaun Bond.

Golfsmith plans to open a 19,900-square-foot store in the spring of 2012 adjacent to OfficeMax at the Harvard Park shopping center in Warrensville Heights, Ohio. Sogoloff and Solomon are currently reviewing additional Northeastern Ohio locations with Golfsmith.

Golfsmith International Holdings, Inc. is a 44-year-old specialty retailer of golf and tennis equipment, apparel and accessories.

The transaction closed in 32 days from the receipt of the application.

Joel Mazur from Beech Street was the originator on the deal.

Built in 1993, the 10-buiding two-story garden-style apartment complex totals 160 units. Eaglecreast Apartments is located close to Columbus and The Ohio State University.

The fixed-rate loan has a 10-year term with nine-and-a-half years of yield maintenance. It also has a 30-year amortization schedule on an actual/360 basis.

James brings more than 13 years experience in commercial real estate to his new position. He has closed more than $300 million in investment sales and leased more than 3 million square feet of retail space for owners and tenants during his career.

Bitton has worked with his clients to close more than $150 million worth of transactions. He earned the Rookie of the Year award in 2008 from the Columbus Board of Realtors.

The NAI Global network includes NAI companies across the Midwest, including such familiar names as Chicago’s NAI Hiffman, NAI Ruhl & Ruhl Commercial Company in Iowa, NAI DESCO in St. Louis and NAI Daus in Cleveland.

Commercial real estate services company C-III specializes in primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multi-family property management.

Andrew Farkas, the chief executive officer who leads C-III, was also the founder and chairman and chief executive officer of Insignia Financial Group. C-III is based in Irving, Texas, with additional offices in New York; Greenville, S.C.; McLean, Va.; Chicago; Dallas; and Nashville.

The acquisition doesn’t appear likely to change the way NAI affiliates across the Midwest will operate. NAI Global will continue to operate as a separate company under its current management. C-III officials, though, did say in a press release that the company will look to grow NAI Global by exploring business opportunities in strategic locations, including New York, London, Singapore and other primary global business centers.

“The completion of this transaction represents a significant step forward in our strategy to build a fully diversified commercial real estate services company,” Farkas said in a written statement. “With the NAI Global acquisition, we are gaining the world’s leading commercial real estate network and a tremendous foundation for future growth.”

Officials with NAI Global also expressed excitement over the new arrangement.

“We are thrilled to be joining forces with C-III and excited about the opportunity to deliver an even broader range of services to our members and add greater value to our collective corporate and investment clients,” said Jeffrey Finn, president and chief executive officer of NAI Global, in a written statement. “We look forward to tapping into their extensive resources and expertise to assist all of our clients in strategically optimizing their commercial real estate assets.”

NAI Hiffman chief executive officer Dave Petersen said that he expects the benefits of the transaction will translate to new real estate assignments for the company’s local office and will create added opportunities for existing clients and shareholders.

“The best aspect of this transaction is that its greatest value will be seen at the ground level in the form of property management, leasing and investment sales opportunities,” Petersen said.

Founded in 1977 by Gerald Finn, NAI Global has grown from covering 15 countries in 1999 to a network that now boasts 350 offices in 55 countries, with more than 300 million square feet of commercial space under management.

C-III started its operations when it purchased Centerline Capital Group’s institutional real estate debt fund management and commercial mortgage loan servicing businesses in March of 2010. Since that time, C-III has launched mortgage origination, investment sales and title insurance businesses, and expanded its principal investment, loan origination, fund management and primary and special loan servicing businesses, including acquiring the special servicing and CDO management businesses of JER Partners in August of 2011.

The property sold for more than $2.9 million, representing an 8.24 percent CAP Rate. Dan Cooper from Cooper Commercial represented the owners, a private New York-based company. Cooper also found the buyers, a private group from Texas. The property sale closed in less than 60 days of contract execution.

The 10,125-square-foot property was built in 1999.

The properties are located in and around Indianapolis. The properties are multi-tenanted and consist of private-practice physician groups and affiliates of credit-rated regional hospitals.

Joseph Gonzales of MS&F’s Cleveland office originated the transaction on behalf of a private partnership specializing in medical office facilities. MS&F was engaged to access the correspondent lender.

John Godwin, a vice president of investments, along with associates Deno Bistolarides and Ryan Vinco, all in Marcus & Millichap’s Detroit office, represented the seller and the buyer. Michael Glass, vice president and regional manager of Marcus & Millichap’s Cleveland office, was the broker of record in the transaction.

“Long steel serves the civil construction, industrial and agricultural sectors, and is a vital part of the structure of homes, shopping centers, hospitals, bridges and hydroelectric plants,” says Godwin. “The building was constructed in 2001 as a build-to-suit for the tenant and is in great condition. The lease has five years remaining and is guaranteed by Gerdau’s North American subsidiary.”

Sarah Carter

Sarah Carter recently became a principal at Dayton, Ohio, law firm Pickrel, Schaeffer and Ebeling.

Carter has worked in the business department of Pickrel, Schaeffer & Ebeling since 2005, and represents a broad range of clients including privately owned businesses, multi-national corporations, banks, not-for-profit entities and health care institutions.

Carter’s practice is focused on corporate, business and commercial law and involves areas such as corporate formation, mergers and acquisitions, contractual matters, real estate transactions, leases, licensing issues, succession planning, private placement securities transactions, creditors’ rights, non-compete covenants, employment agreements and day-to-day corporate governance.

Carter has also reviewed loan documents for business clients and has worked on and prepared loan documents for local banks.

Carter graduated summa cum laude from the University of Dayton in 2002, and also received her Juris Doctor from the University of Dayton.  She is involved in many organizations throughout Dayton including the Dayton Area Chapter of the American Red Cross and the American Heart Association.