Hanley Investment Group Real Estate Advisors has arranged the sale of Perimeter Center, a fully leased 139,486-square-foot shopping center anchored by a Giant Eagle Market District grocery store in Dublin, Ohio.
Hanley Investment Group’s Executive Vice President Kevin Fryman and President Ed Hanley, in association with ParaSell, Inc., represented the 1031 exchange buyer, an affiliate of Orton Development, Inc., with offices in Pasadena, California.
The seller was an institutional real estate owner, operator and developer of a national portfolio and was represented by the JLL Retail Capital Markets team led by Managing Directors Clinton Mitchell and Amy Sands.
Perimeter Center is anchored by a Giant Eagle Market District grocery store.
Perimeter Center is situated on a 15.54-acre parcel at U.S. Route 33 and Avery Road in Franklin County at 6644-6804 Perimeter Loop Road. The grocery-anchored shopping center was built in 1995 and serves the affluent community of Dublin in the Columbus metro area.
The shopping center features a mix of internet-resistant tenants including Giant Eagle Market District, Chipotle Mexican Grill, Edward Jones, Enterprise Rent A Car, Sport Clips, UPS Store and Jersey Mike’s Subs. Perimeter Center benefits from a strong daytime population due to its proximity to the corporate offices of Nationwide, Wendy’s and Cardinal Health and offers easy access from Interstate 270. There are over 154,000 people within five miles of the shopping center.