Eastern Union Secures $12,967,500 in Financing Toward Acquisition of 174,078-Square-Foot Shopping Center in Lima, Ohio

Eastern Union has successfully arranged $12,967,500 in financing for the acquisition of Lima Center, a prominent shopping center located in Lima, Ohio. The total purchase price for the property, which spans 174,078 square feet, was set at $19,500,000. The financing transaction was completed on June 8, 2026, and the borrower in this deal was Lima Tov, LLC.

Lima Center is strategically anchored by well-known retailers, including an 86,584-square-foot Kohl's and a 30,000-square-foot TJ Maxx, contributing to its appeal as a retail destination. The shopping center, which also features ten retail tenants, boasts a remarkable 100-percent occupancy rate and is 98-percent leased, highlighting its strong demand and stability in the current retail market. The property occupies a 22.55-acre site and includes ample parking with 1,438 spaces, facilitating easy access for shoppers.

The financing arrangement was facilitated by a team from Eastern Union, including managing director Jack Beida, senior managing director Michael Muller, and commercial loan analyst Mike Orlik. This transaction underscores Eastern Union's significant presence in the Ohio market, where it has financed over $1 billion in commercial assets. The firm secured a seven-year, fixed-rate mortgage for the acquisition, reflecting the confidence in the retail asset's long-term stability and performance.

The Lima Center's location in northwestern Ohio, within a city that has a population exceeding 35,000, positions it favorably for continued success. The local economy is diversified across various sectors, including healthcare, education, and manufacturing, which can contribute to sustained consumer spending in the area. The shopping center's ability to attract nearly 1.9 million annual visits further underscores its importance as a retail hub in the region.

This transaction reflects broader trends in the retail real estate sector, where well-located, multi-tenant properties continue to attract investment despite the challenges posed by e-commerce. The successful financing of Lima Center illustrates investor confidence in traditional retail formats that can offer stability and consistent cash flow. As the market evolves, properties that maintain high occupancy rates and feature recognizable tenants are likely to remain attractive to investors seeking reliable returns.