SRS Real Estate Partners has completed the approximately $11.91 million sale of Airport Square, a 187,252-square-foot shopping center located at 5245 and 5325 Airport Highway in Toledo, OH.
SRS Capital Markets Jack Cornell, Matthew Mousavi and Patrick Luther as well as Mac Lehrer with Hoty Enterprises represented the seller, Oklahoma City, OK-based Frayer Properties. SRS also represented the buyer, a private investor from Las Vegas. Matt Shane of SF Capital Group procured the debt.
Situated on approximately 23 acres, the property is 99% occupied by a number of tenants including Urban Air Adventure Park, Discount Fashion Warehouse, American Freight, and DaVita Healthcare. Urban Air recently signed a 10-year lease demonstrating its commitment to the center.
“This was a complex transaction and SRS was able to work with both the buyer and the seller to execute financing in a challenging interest rate environment,” said Cornell.
The property is situated on the signalized intersection of U.S. Highway 20 and Airport Highway and is just 1.2 miles from Interstate 475.
In 2023, SRS Capital Markets completed approximately $2 billion in deal volume comprised of 495 transactions in 43 states. SRS currently has in excess of 600 properties actively on the market with a market value surpassing $2.85 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with 29 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.