Chicago & Midwest + Midwest + Retail | March 24, 2021

Hanley Arranges 1031 Deal for Two Ohio Dollar General Properties

Hanley Investment Group Real Estate Advisors arranged the sale of two new-construction, single-tenant Dollar General properties in Ohio in separate transactions. The two build-to-suit properties were located in Windham and Bradner, OH and sold for a combined $3.1 million.   

Senior associate Beau Velten, along with EVPs Jeff Lefko and Bill Asher, in conjunction with ParaSell, Inc., represented the buyer, a private 1031 exchange buyer based in San Diego, in both transactions. The seller and developer of both properties, Zaremba Group of Lakewood, OH, was represented by Doug Holtzman and Tori Nook of Anchor Cleveland.  

“Hanley Investment Group represented the California-based investor who traded out of a multifamily property,” said Velten. ”We helped facilitate our client’s goal to acquire two passive retail investments at above-market returns outside of California to fulfill a 1031 exchange requirement. Additionally, we worked with multiple lenders in order to secure the best possible financing.” 

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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 13-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 15-20 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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