Retail i Ohio

Marcus & Millichap sells grocer, pet store in Cincinnati

Marcus & Millichap closed the sale of a Fresh Thyme Farmers Market and a PetSmart in Cincinnati. The $12.35 million sales price for both assets equates to a combined cap rate of 7.3 percent and about $234 a square foot.

C.J. Jackson, Erin Patton, Scott Wiles and Craig Fuller with Marcus & Millichap procured the buyer, a local investor.

The 33,721-square-foot Fresh Thyme and 19,107-square-foot PetSmart are located at the intersection of Alamo Avenue and Ridge Road, in the middle of the Center of Cincinnati mixed-use development. Adjacent retailers include LA Fitness, Target, Meijer, Sam’s Club and a Cinemark 14-screen movie theater.