Equity Inc. recently closed the acquisition of Sycamore Plaza, a 31,950-square-foot Kroger-anchored retail center on Refugee Road in Pickerington, Ohio.
This acquisition represents the first investment made by Equity Inc.’s sister company, Equity Velocity Funds, in its inaugural vehicle Equity Velocity Fund I.
The project includes a 25,200-square-foot strip center and ground leases to both Chase Bank and Wendy’s.
The strip center is 89-percent leased, with more than 50 percent of existing leases having been renewed prior to closing. The Brunch Cafe is also joining Sycamore Plaza, adding another category of restaurant to the tenant mix. The cafe will open before the end of the year.
Patrick Wathen, senior vice president of brokerage for Equity Inc., and Matt Lasky, Equity’s retail brokerage associate, represented Equity in the acquisition. Matt Cooper, vice president of retail brokerage for Equity, will be the leasing contact for the remaining available space.
