Columbus, Ohio grocery-anchored center sells for $35M

CHICAGO, Sept. 28, 2022 – JLL Capital Markets announced today that it has closed the $35 million sale and the $17.65 million acquisition financing of Perimeter Center, a 138,536-square-foot, grocery-anchored retail center located in Dublin, Ohio within the Columbia MSA.

JLL represented the seller in this transaction. Hanley Investment Group’s Executive Vice President Kevin Fryman and President Ed Hanley, along with ParaSell, Inc., represented the 1031 exchange buyer, an affiliate of Orton Development, Inc., with offices in Pasadena, California. JLL also worked on behalf of the new buyer to secure the ten-year, fixed-rate loan through Mutual of Omaha Insurance Company.

The 99-percent-occupied Perimeter Center is anchored by the high-performing Giant Eagle Market District, which has over a 20-year operating history at the site. Additional tenants include Chipotle, First Watch Rusty Bucket, Crumbl Cookies, Jersey Mikes, Salon Lofts, The Blowout Bar and UPS.

Situated at 6644 – 6804 Perimeter Loop Rd., the property is located off of U.S. Route 33 with a vehicles per day count of 75,000. Within five miles of the property is a customer base of 154,139 and an average household income of $131,839.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder. The JLL Retail Capital Markets Debt Advisory Team was led by Senior Director Chris Knight.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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