7402-7404 Broadview Rd
Parma, OH 44134
Loan Secured by Parma Outlet Center · Retail Property For Sale

Receivership - The court-appointed receivership enables independent oversight and control of the mortgaged property, its operations and cash flow until title to the mortgaged property is transferred by foreclosure or otherwise or a subsequent court order modifies or terminates the receivership. Borrower Cooperation - The Borrower has stated that it would not contest foreclosure actions. Mortgaged Property Highlights Prime Location - The property enjoys good visibility and accessibility at a signalized intersection along Broadview Road, a primary local commercial corridor. Regional Accessibility - Nearby I-77 (approximately two miles from the mortgaged property) provides easy accessibility within the Cleveland MSA. Strong Shadow Anchor - Giant Eagle, the dominant grocer serving Northeast Ohio, and adjacent Fifth Third Bank provide steady customer draw.  Additional traffic generators within the trade area include several nationally recognized big box retailers, various restaurants, Seven Hills Recreation Center and Normandy High School. Value-Add Opportunity - 3,200 SF (40% of total NRA) of vacant space provides an opportunity to add value through leaseup. Flexible Use - The existing R-B Retail Business zoning provides significant use flexibility.