Beachwood, Ohio – Pavilion Shopping Center is 97 percent occupied with the one remaining vacant space under negotiation.
Beachwood, Ohio – Devonshire REIT has acquired Pavilion Shopping Center in the Cleveland suburb of Beachwood for $35 million. The grocery chain Giant Eagle anchors the 249,873-square-foot Pavilion Shopping Center with sub-anchors of Big Lots, Marshalls, Michaels and Stein Mart. Other national tenants include Petco, Lane Bryant, Quiznos, Bruegger’s Bagels, Sally Beauty Supply, GNC, Verizon Wireless, Ruby Tuesday and Huntington Bank. Devonshire did not disclose the seller. The property is 97 percent occupied with the one remaining vacant space under negotiation. Huntington Bank provided the financing for the transaction.
— Scott Reid