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Chicago & Midwest  + Midwest  + Office  |  November 30, 2018
Paul Bubny
By: Paul Bubny

CushWake Team Sells Cleveland-Area MOB

Cushman & Wakefield has arranged the sale of Seventh Avenue Medical Center in the Cleveland suburb of Chardon, OH. Chicago-based Gino Lollio, Scott Niedergang and Bryan Belville, with the assistance of Eric Schreibman of Cleveland, represented the seller, a group of physicians practicing out of the building and the original builders.

The team also procured the buyer, an out-of-state private equity firm which focuses on the acquisition of medical office real estate throughout the country.

Seventh Avenue Medical Center is a 27,930-square-foot, ambulatory surgery center-anchored medical office building located at 150 Seventh Ave. in Chardon. The building was fully-occupied at the time of sale, with anchor tenants including Kellis Eye Center, Chardon Surgery Center and Precision Orthopedic Specialties.

“There was a tremendous amount of interest from different types of investors for this 100% occupied, high-quality ASC-anchored MOB,” said Lollio.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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