Coyne Report - June 26, 2026

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Connect CRE 2026 Next Generation Award Winner: Claire Coyne

Newmark’s Coyne Balances Top-Producing Dealmaking With Industry Leadership

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NNN Investment Opportunity | Cleveland

Sale Price: $80/SF | Cap Rate: 6.87%

15501 Industrial Pkwy. | Cleveland

250,597 SF Industrial Building

100% Leased to Long-Term Tenant

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Land Sale | Irwin

Rosedale-Plain City Rd.

$25,265,625 ($74,999/AC)

336.88 AC

Seller: Miley Farms LLC | Buyer: AEP Ohio Transmission Company, Inc.

Why: AEP Ohio Transmission Company likely acquired the 336.88 acres along Rosedale-Plain City Road to secure a fee-owned site for the Patina-Mirkwood substation and associated 345 kV transmission corridor needed to serve a large new power user and long-term regional load growth.

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Industrial Portfolio Sale | Beavercreek

2060 & 2070 Heller Dr.

$12,500,000 ($87.78/SF)

142,400 SF

Seller: Midwest Properties | Buyer: Chez Moi LLC

Why: Midwest Properties likely sold the stabilized portfolio to Chez Moi LLC to recycle capital into new acquisitions, while Chez Moi LLC likely acquired it as a passive income investment backed by creditworthy tenants in the Cincinnati–Dayton I-75 corridor.

Industrial Truck Terminal Sale | Cincinnati

1100 Gest St.

$8,200,000 ($170.45/SF)

48,108 SF

Seller: IronHorn Enterprises | Buyer: Hempel Companies

Why: Hempel Companies likely acquired this near-downtown industrial/fleet site that fits into their growing industrial outdoor storage strategy across the Midwest, while offering long-term, mission-critical income from First Student (tenant).

Office Condo Sale | Akron

222 S. Main St., Units 2, 3, 4A, 4B, & 4C

$5,750,000 ($47.08/SF)

122,136 SF

Seller: Roetzel & Andress | Buyer: Run Well Ranches, LLC (Joe Sofio)

Why: Run Well Ranches, LLC’s purchase of the Roetzel & Andress condo at 222 S. Main St. looks like a deeper bet on Akron’s future, extending Joe Sofio and Kristy Clark’s growing local footprint from heritage neighborhood anchors like Mary Coyle into the civic and institutional core of the city while potentially giving Civic Saturday Akron a downtown home base.

Land Sale | Arcanum

4562 Otterbein-Ithaca & Grubbs-Rex

$5,421,360 ($17,529/AC)

309.28 AC

Seller: Lloyd E. Rogers Trust | Buyer: ShurGreen Farms

Why: ShurGreen Farms likely bought the 309.28 acres in Arcanum from a trust to secure long‑term control of nearby farmland that supports its organic-waste recycling operations, nutrient land‑application, and strategic land‑banking objectives.

Industrial Truck Terminal Sale | Columbus

1030 Frank Rd.

$4,885,000 ($258.47/SF)

18,900 SF

Seller: Estes Express Lines | Buyer: Mckinney Trailers

Why: Mckinney Trailers would likely buy this truck terminal asset to secure a strategically located, purpose‑built cross‑dock, yard, and shop facility in Columbus that enhances its growing trailer rental, maintenance, and parking operations.

Hotel Sale | Canton

5335 Broadmoor Circle NW.

$4,180,000 ($38,704/Room)

108 Rooms

Seller: Sharma Broadmoor LLC | Buyer: Cokac LLC

Why: Cokac LLC likely bought the distressed hotel at 5335 Broadmoor Circle NW to acquire a well-located, income-producing asset at a discounted price with significant operational and value-add upside in a strong Canton hospitality corridor.

Retail Sale | Groveport

6011 & 6013-6029 London Groveport Rd.

$3,950,000 ($37.90/SF)

104,216 SF

Seller: CASTO | Buyer: Amcor Holdings, Inc.

Why: CASTO most likely sold the retail asset to recycle capital into more strategic or higher‑return projects, while Amcor Holdings likely bought it for long‑term, Kroger‑anchored cash flow with value‑add upside in a growing Groveport logistics and retail corridor.

Retail Sale | Hilliard

4039 Lyman Dr.

$3,838,600 ($191.95/SF)

19,998 SF

Seller: CSM Kenworth | Buyer: CSM Companies

Why: This transaction appears to be an internal sale between related CSM‑affiliated entities, likely recorded for internal book/transfer purposes or lender underwriting, rather than a true arm’s‑length market trade.

Land Sale | Urbana

297 N. State Route 560 & Old Troy Pike

$3,807,980 ($14,800/AC)

257.29 AC

Seller: Robert P. Creecy | Buyer: Organ Farms

Why: Organ Farms sold a smaller, premium‑valued tract to Thor Equities Group (closed June 12) as part of its data center land assembly and seemingly used the proceeds to buy a much larger, lower‑priced farm parcel down the road, effectively trading up in acreage while staying in the same market.