December 2020 | Konover South was pleased to announce that we have negotiated the completion of a note purchase for Cedar Center North, a 61,420 sf shopping center in Cleveland, Ohio.
Cedar Center North is located at the busy intersection of Cedar Road and Warrenville Center Road in the South Euclid community. Built in 2012, the multi-tenant retail center sits on 7.1 acres and includes 61,420 rentable sf.
The original mortgage was secured in 2014 for $11,000,000, Konover purchased the note for $9,500,000 in an all-cash purchase.
Konover currently has two assets in the Ohio market. University Corners retail center is located one mile away from Cedar Center North in Cleveland’s University Heights neighborhood and was purchased in May of this year. Michigan Terrace was purchased in 2019 and is home to Lululemon in Cincinnati’s Hyde Park Square.