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Chicago & Midwest  + Midwest  + Retail  |  March 26, 2024
Jasmine Kilman
By: Jasmine Kilman

SRS Completes Sale of Toledo Airport Square Shopping Center

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, Ohio.

SRS Capital Markets Jack Cornell, Matthew Mousavi and Patrick Luther, as well as Mac Lehrer with Hoty Enterprises, represented the seller, Oklahoma City-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 percent occupied by a number of tenants, including Urban Air Adventure Park, Discount Fashion Warehouse, American Freight, and DaVita Healthcare.

“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.

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SRSFrayer Properties

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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