Newport Beach, Calif. (April 11, 2022) – SRS Real Estate Partners Investment Properties Group (IPG) announced today it has completed the $10.2 million sale of Ridgewater Plaza, a 175,945-square-foot multi-tenant retail center located at 3240 Highland Avenue in Cincinnati, OH.
SRS IPG’s First Vice President Jack Cornell represented the seller, Oklahoma-based Frayer Enterprises as well as the buyer, an Ohio-based, private real estate investment firm.
Situated on 28.07 acres, the property is 92% occupied by several tenants including American Freight and NAPA Auto Parts. The shopping center also includes Lowe’s Home Improvement which was not a part of the sale.
“This center is well-known locally with a long operating history,” said Cornell. “This deal was previously listed by other national brokerage firms and did not sell. Through our aggressive marketing and refined investor/broker database, we carefully selected the best buyer and closed within about 90 days of initial marketing.”
In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 Billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market, with nearly 200 properties sold year-to-date in 2022.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 26 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
SRS’ Investment Properties Group (IPG) & National Net Lease Group (NNLG) is a unified platform of seasoned net lease professionals located and transacting nationally with all underwriting and marketing efforts strategically located in Southern California. In 2021, the group completed more than 899 sales across more than 49 states and has over 160 brokerage professionals nationally. From proactive sales to targeted acquisitions and tailored debt and equity solutions, SRS’ National Net Lease Group offers comprehensive services to net lease owners and investors. Superior speed-to-market, world-class marketing materials, a deep investor database and unparalleled retail submarket intelligence from the entire SRS platform allow SRS’ National Net Lease Group to deliver the best possible returns. For more information, please visit srsre.com/national-net-lease-group.