Motor Mart Garage
Update
06/27/16
CIM Group, recent buyer of 95 Berkeley, reportedly buying Motor Mart Garage for over $160 million
The Real Reporter reports that Los Angeles-based real estate investment firm CIM Group is buying the 1,037-parking-space Motor Mart Garage in Bay Village for upwards of $160 million. CIM Group has an extensive parking garage portfolio stretching across the United States. CIM Group also invests in hotel, industrial and office space and acquired 95 Berkeley in the South End in March 2016 for $43 million.
The Art Deco-designed Motor Mart Garage, completed in 1927 and restored in 1999, is located at 201 Stuart Street across from the Revere Hotel. The garage's ground floor is lined with existing retail tenants including Fleming's Prime Steakhouse & Wine Bar, Legal Sea Foods and Maggiano’s Little Italy. The garage, listed for sale in April 2016, reportedly attracted upwards of 20 bidders including CIM Group.
More information about Motor Mart Garage is posted below.
