CANTON, OHIO—A private group based in Youngstown has purchased a Jared Jewelers Center located in Canton for $4.6 million or $403.50 per sq. ft.
Dan Cooper, president and broker of Cooper Commercial Investment Group in Cleveland, represented the owner of the property, a private investor in the Cleveland area.
Currently 100 percent occupied, the building has two long-term leases in place. The plaza’s anchor tenant, Jared The Galleria of Jewelers, chose the location as a build-to-suit in 2002.
Jared Jewelers is a Sterling/Signet entity, which is the largest showcase of fine jewelry operating more than 1,870 stores in all 50 states, the United Kingdom and Ireland. Sterling Jewelers is headquartered in Akron and continues to grow as it quickly approaches $4 billion in annual sales, more than 16,500 full-time employees, and more than 2,100 employees in their U.S. headquarters facility located nearby.
The remaining space at the property is leased to Danner Dental, an established dental practice that recently expanded to accommodate its clientele base and additional services. The practice has teamed up with Celebration Day Spa, which provides massage, facial and cosmetic services.
Both of the building’s tenants are on Absolute Triple Net leases.
Located in Belden Village in Canton, the 11,400-sq.-ft. property offers highway visibility from I-77 and immediate access to the property upon exiting the freeway. The property is located within five miles from the Akron-Canton airport.