Marcus & Millichap Real Estate Investment Services

Scott Wiles

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In The News: Investor Purchases Munhall Square II for $3.1M
Center Associates Realty Corporation sold the Munhall II Shopping Center to Gordon Real Estate Company, Inc. for $3.05 million, or about $81 per square foot. The property is a 37,720-square-foot retail shopping center that was constructed in 2005 on 3.7 acres. The center consists of three smaller retail businesses and Big Lots as the anchor tenant, and was fully leased at the time of sale. Scott Wiles, Erin Patton, and Craig Fuller of Marcus & Millichap represented the seller in the sale. The buyer was represented in-house.; Marcus & Millichap Handles Exchange of Office and Retail Complex
TNP Strategic Retail Trust Inc., an Irvine, CA-based REIT, acquired the Aurora Commons office and retail complex in Aurora, OH, from H&S Co. Ltd. for $7 million, or about $82 per square foot. The Aurora Commons complex includes a retail center at 300 Aurora Commons Circle and an office building at 251 W. Garfield. Marc's, a local discount store, is the anchor tenant in the retail center. The two buildings total an area of approximately 85,000 square feet. Marcus & Millichap's Erin Patton, Scott Wiles, Craig Fuller, Simon Jonna and Brandon Hanna represented both parties.; Twinsburg Retail Property Trades for $5 Million
Snyder-Twinsburg LLC, a real estate investment group, purchased the retail facility at 10735-10755 Ravenna Road in Twinsburg, OH for $5.14 million, or about $44 per square foot. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller and buyer.; Marcus & Millichap completes the sale of The Shoppes at Town & Country
Marcus & Millichap Real Estate Investment Services recently completed the sale of The Shoppes at Town & Country, a 15,311-square-foot retail property located in Columbus. The asset commanded a sales price of $1.1 million. Erin Patton, Scott Wiles and Antoine Matthews, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a developer.; CMN Quinlan Pays $1.325M For Hilliard Plaza
CMN Quinlan acquired the single-story Hilliard Plaza in Hilliard, OH, from Chuck Warner of Chuck Warner & Associates for $1,325,000, or about $110 per square foot. The buyer was self-represented in this transaction, while Antoine Matthews, Erin Patton, and Scott Wiles of Marcus & Millichap represented the seller.; Marcus & Millichap Negotiates $10M Sale of Pennsylvania Shopping Center
Marcus & Millichap negotiated the sale of the Shoppes at Adams Ridge, a 49,060 SF grocery-anchored shopping center in Mars, Pa. for $10.08 million. The price works out to $205 per square foot. The Shoppes at Adams Ridge includes a 41,837 SF building and two out parcels housing a 3,723 SF Dairy Queen and a 3,500 SF Citizens Bank. McGinnis Sisters, a specialty grocery store, anchors the property. The center was built in 2008. Steven J. Siegel, of Marcus & Millichap’s Manhattan office, represented the seller in the transaction. Erin Patton, Scott Wiles and Craig Fuller, from Columbus and Cleveland, Ohio offices, represented the buyer. Spencer Yablon, of Marcus & Millichap’s Philadelphia office, also provided representation.; Shopping Plaza in Willoughby Trades for $2.5 Million
Lakewest Plaza Holdings LLC, an investment group, purchased the retail center at 35535 Euclid Ave. in Willoughby, OH, from North Coast Properties for $2.55 million, or about $124 per square foot. The 20,514-square-foot building was constructed in 1986. There were several tenants occupying space in the plaza during time of sale. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented North Coast Properties, while Lakewest Plaza Holdings LLC was self-represented.; Marcus & Millichap Brokers Sale of Five-Property Portfolio
Marcus & Millichap Real Estate Investment Services, brokered the sale of a five-property Office Max/Office Depot portfolio located in Minnesota, West Virginia and Michigan. The sales price was approximately $11.5 million. James Stonehill and Scott Wiles in Marcus & Millichap's Cleveland office and Erin Patton in the firm's Columbus office represented the seller, a local developer.; $71 MILLION SHOPPING CENTER PORTFOLIO UP FOR GRABS
Marcus & Millichap has received the exclusive listing for a 10-property shopping center portfolio. The listing price of $71.86 million represents $71/SF. James Stonehill, Scott Wiles, and Erin Patton are representing the seller.; FIVE-PROPERTY RETAIL PORTFOLIO SELLS FOR $11.5 MILLION
Marcus & Millichap has brokered the sale of a five-property Office Max/Office Depot portfolio located in Minnesota, West Virginia and Michigan. The sales price was $11.5M. James Stonehill, Scott Wiles, and Erin Patton represented the seller.; CoStar Announces 2010 Power Broker Award Winners
CoStar Announces 2010 Power Broker Award Winners for the Cleveland, OH submarket; Marcus & Millichap Arranges Sale of Ohio Restaurant Building
Marcus & Millichap Real Estate Investment Services recently sold a 4,320-square-foot building leased to an Applebee's restaurant in Alliance, Ohio. The asset commanded a sales price of more than $2 million, which equates to $475 a square foot. John Talbot, Scott Wiles and Craig Fuller in Marcus & Millichap's Cleveland office, and Erin Patton in the firm's Columbus office, arranged the sale.; Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap Sell $15.5M Texas Shopping Center
With the help of the company's Cleveland and Columbus offices, Marcus & Millichap Real Estate Investment Services recently brokered the sale of Waxahachie Crossing, a 96,983-square-foot shopping center in Waxahachie, Texas.; Sheetz-Leased Property in Erie, PA Sells for $1.81M
A 4,500 Square-Foot, Single-Tenant Net-Leased property located in Erie, PA that is leased to Sheetz has sold for $1.81 million. Thomas J. Gorman, Matthew P. Gorman and Michael Shover, investment specialists in Marcus & Millichap's Philadelphia office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Craig Fuller, Erin E. Patton and Scott Wiles, investment specialists in Marcus & Millichap's Cleveland and Columbus offices.; Marcus & Millichap’s Columbus Team Completes Two Sales
Erin Patton and Scott Wiles of Marcus & Millichap Real Estate Investment Services recently arranged the sale of two ground lease properties, one in Columbus, Ohio, and a second in Pennsylvania.; CoStar Announces 2009 Power Broker Award Winners
CoStar Announces 2009 Power Broker Award Winners for the Cleveland, OH submarket.; 213,785 Square Foot Ashland Square Retail Center Sells
Ashland Square, a 213,785-square-foot retail center located in Ashland, Ohio, has been sold. Erin Patton and Scott Wiles, of Marcus & Millichap, represented the seller.; Snowville Plaza Sells for $2.1 Million
A New York investor has purchased Snowville Plaza in Parma for $2.1 million, according to property records. Scott Wiles and Erin Wiles-Patton of the Marcus & Millichap Real Estate Services brokerage firm in Independence represented the seller.; Marcus & Millichap Cleveland Announces Top Producers for 2008
Marcus & Millichap Cleveland Announces Top Producers for 2008; CoStar Announces 2008 Power Broker Award Winners
CoStar Announces 2008 Power Broker Award Winners for the Cleveland, OH submarket.; Marcus & Millichap Brokers Sale of 128,028 SF Retail Center
Marcus & Millichap has brokered the sale of University Plaza, a 128,028-square-foot retail center located at Cherry and South Water streets in Kent. Erin Wiles-Patton and Scott Wiles in the Columbus, Ohio, office of Marcus & Millichap represented both parties in the transaction.; Marcus & Millichap Brokers $1.85 Million Sale of Strip Center
Marcus & Millichap Real Estate Investment Services has brokered the sale of Cross Creek Shopping Center, a retail center located on Crosscreeks Boulevard in Pickerington. Erin Wiles-Patton and Scott Wiles of Marcus & Millichap's Wiles Group represented the seller Arsh Investments in the transaction.; CoStar Announces 2007 Power Broker Award Winners
CoStar Announces 2007 Power Broker Award Winners for the Cleveland, OH submarket.; 3 Drug Mart Plazas Find Buyers
Local retail real estate investor Spielberger Properties Ltd. has sold a portfolio of three Discount Drug Mart-anchored shopping centers for $11.2 million. Scott Wiles and Erin Wiles-Patton, both with the Marcus & Millichap real estate investment services group in Ohio, represented the seller and buyer in the deal.; ICSC 2007 Recap
In a booth on the floor of this year's International Council of Shopping Centers' spring convention in Las Vegas, east has met west, Cleveland-style.; Maple Heights Retail Center Fetches $6.3 Million
The Maple Leaf Square Shopping Center, a PetSmart-anchored shopping center at 5448 Warrensville Center Road in Maple Heights, has changed hands. Scott Wiles, an associate with the Independence office of real estate brokerage Marcus & Millichap, confirmed the deal. Wiles and Erin Wiles-Patton represented the seller.; Plaza in Twinsburg Sold for $12 Million
The Plaza on Ravenna Road, formerly Massara's Plaza, was not on the market until a $12.1 million deal was made. Scott Wiles and Erin Wiles-Patton of Marcus & Millichap were the brokers involved in the sale.; Denotes Private News

Scott Wiles: Senior Associate
Cleveland: Crown Centre
5005 Rockside Road, Suite 1100
Independence, OH 44131
(216) 264-2026: (216) 264-2010 fax; License:
OH SAL.2005013197

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