Chicago & Midwest + Midwest + Retail | January 18, 2023

SRS Real Estate Partners represented RPS Capital in the sale of a multi-tenant retail center in Parma, Ohio

SRS Arranges Sale of Value-Add Cleveland Retail

SRS Real Estate Partners completed the $1.775-million sale of Parma Shoppes, an 8,000-square-foot multi-tenant retail center located at 7406 Broadview Road in Parma, OH, a Cleveland suburb. Built in 2005 and situated on 1.68 acres, the center is 80% leased and includes Buffalo Wild Wings, Verizon, Domino’s and Bank of America.

SRS NNLG’s EVP Patrick Nutt and VP William Wamble represented the seller, RPS Capital. The buyer was a California-based private investor.

“We generated eight offers within the first few weeks of marketing the property,” Wamble said. “We leveraged SRS’ national platform to identify a California-based investor who has the opportunity to add value through lease-up of the available space and bringing rents to market rates as they expire.”

Parma Shoppes is shadow anchored by Giant Eagle, providing strong crossover shopping traffic. The center fronts Broadview Road, which is a major retail corridor for the local area.

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Inside The Story

SRS' NuttSRS' Wamble

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).