Tenants-in-common bag retail center
Ohio property acquired through 'like kind' 1031 exchanges
By Inman News, Thursday, June 10, 2004.Inman News®
SCI Real Estate Investments, along with 11 other tenant-in-common investors who are completing 1031 exchanges, acquired the 146,278-square-foot Tri County Crossing retail power center property in Springdale, Ohio.
The value of the transaction was $19 million.
The 14.6-acre property was built in 1995 and is located approximately 12 miles north of downtown Cincinnati.
The property has three tenants: Best Buy (NYSE: BBY), Barnes & Noble (NYSE: BKS) and Dick's Sporting Goods (NYSE: DKS).
SCI's acquisition executive Scott Derrick represented the buyers, and Ben Wineman & Rick Drogosz of Mid-America Real Estate Corp. represented the seller, whose identity was not disclosed.
West Los Angeles-based SCI is a commercial real estate investment company.
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