Brecksville Healthcare Holdings LLC purchased the 2.8-acre hotel parcel at 8757 Brecksville Road in Brecksville, OH, from a private individual for $1.15 million, or about $410,714 per acre.
The vacanct Pilgrim Inn will be converted into an 80-bed skilled nursing facility pending approval of a planned development. The new facility, if approved, is expected to open as early as fall of next year or first quarter of 2010.
W. Farley Helms of Colliers Ostendorf Morris represented the seller. David Kaplan of NAI Cummins Real Estate represented the buyer.
Please refer to CoStar COMPS #1582013 for more information regarding the transaction.