Streetsboro, Ohio — JLL Capital Markets has brokered the sale of Streetsboro Crossing in suburban Cleveland for $10.5 million. Grocer Giant Eagle anchors the 89,436-square-foot retail center. Other tenants at the property, which was nearly 94 percent leased at the time of sale, include Pet Supplies Plus, Palm Beach Tanning, GNC, Great Clips and Sally Beauty. Completed in 1996 and renovated this year, the center is situated on 19.6 acres. Amy Sands, Clinton Mitchell, Kirstey Lein and Bill Poffenberger of JLL represented the seller, an affiliate of Chicago-based Pine Tree. …
Ohio
Cincinnati — Phillips Edison & Co. Inc. (PECO) has filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission for a proposed public offering in conjunction with the listing of its stock on a national stock exchange. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The Cincinnati-based retail REIT intends to list its stock under the ticker symbol “PECO.” Morgan Stanley & Co. LLC, BofA Securities and J.P. Morgan Securities LLC will be acting …
Strongsville, Ohio — CBRE’s National Retail Partners Midwest Team has brokered the sale of SouthPark Mall in Strongsville, a suburb of Cleveland. The sales price was undisclosed. The 1.4 million-square-foot regional mall is located at 500 Southpark Center. Anchor tenants include Dick’s Sporting Goods, Cinemark, Kohl’s, Macy’s, Dillard’s and JCPenney. CBRE represented the seller, a private equity firm. An East Coast-based private investment firm was the buyer.
Worthington, Ohio — Direct Retail Partners has received the final zoning approval to begin construction on Phase I of the redevelopment of the Shops at Worthington Place in Worthington, a northern suburb of Columbus. The project, known as High North, will transform the shopping mall into a mixed-use development, anchored by a 125,000-square-foot Class A office building. Five floors of office space will sit atop four levels of structured parking. The first floor will be surrounded by a WiFi-enabled public courtyard. Dining and grocery options like Panera Bread, First Watch, …
Dayton, Ohio — Cooper Commercial Investment Group has arranged the sale of Sugarcreek Plaza, a 70,000-square-foot retail center located at 6140-6148 Wilmington Pike in Dayton. The center is fully leased to tenants including buybuyBABY, Bed Bath & Beyond, Planet Fitness and Affordable Uniforms. Dan Cooper of Cooper Commercial represented the seller, Boca Raton, Florida-based PEBB, in the disposition of the property to Pinnacle Leasing & Management for $7.5 million.
Columbus, Ohio — Four new tenants have opened within the latest $500 million expansion of Easton Town Center, a 1,300-acre mixed-use project by The Georgetown Co., L Brands and Steiner + Associates in Columbus. New tenants include Pins Mechanical Co, Dragon Donuts, Slurping Turtle and LemonShark Poké & Makai Grill. Pins Mechanical Co. has opened in a 38,000-square-foot, two-story space. The entertainment concept offers three full-service bars; a mezzanine level with stadium seating; 16 bowling lanes; over 60 pinball and arcade games; bocce ball; and bubble hockey. Dragon Donuts has …
Mount Gilead, Ohio — Marcus & Millichap has arranged the $3.4 million sale of a 51,443-square-foot property occupied by Kroger in Mount Gilead, about 40 miles northeast of Columbus. The property is located at 555 W. Marion St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the buyer, a publicly traded REIT. Seller information was undisclosed.
Canton, Ohio — The Cooper Commercial Investment Group has facilitated the $1 million sale of Pleasantview Commons, a 49 percent occupied, Aldi-anchored center in Canton. Dan Cooper and Bob Havasi of Cooper Commercial represented the seller, a private investment group based in Ohio. A private, Nevada-based investment firm acquired the property in an all-cash transaction.
Cincinnati — Marcus & Millichap has brokered the sale of Village Crossings Shopping Center in Cincinnati for $6.8 million. The Aldi-anchored shopping center spans 89,008 square feet and is located at 10400 Reading Road. Other tenants include CAM International Market, JOANN Fabrics, H&R Block, Breakthrough Fitness, Mala Hot Pot and Firestone. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap’s Patton Wiles Fuller Group marketed the property on behalf of the seller, a private REIT. The team also secured the buyer, Maryland-based America’s Realty LLC, a …
Windham and Bradner, Ohio — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant Dollar General properties in Windham and Bradner, Ohio, for a combined total of $3.1 million. Beau Velten, Jeff Lefko and Bill Asher of Hanley Investment Group, in conjunction with ParaSell Inc., represented the San Diego, California-based 1031 exchange buyer in both transactions. Doug Holtzman and Tori Nook of Anchor Cleveland represented the seller and developer of both properties, Zaremba Group. The Dollar General property in Windham is a freestanding, 10,566-square-foot Dollar General …