JLL Capital Markets closed the $10.5 million sale of Streetsboro Crossing, an 89,436-square-foot neighborhood shopping center anchored by Giant Eagle in the suburban Cleveland community of Streetsboro, Ohio.
JLL marketed the property on behalf of the seller, an affiliate of Chicago-based Pine Tree. A private DST investor purchased the asset in an all-cash transaction.
Completed in 1996, Streetsboro Crossing is home to Giant Eagle, the top grocery by market share in the Cleveland MSA. The 93.9-percent-leased retail center is also home to Pet Supplies Plus, Palm Beach Tanning, GNC, Great Clips and Sally Beauty and is shadow anchored by Lowe’s Home Improvement and Target.
Streetsboro Crossing is situated on 19.6 acres at 1280 OH-303 in the dominant retail corridor in Streetsboro, an affluent Cleveland suburb 35 minutes from downtown. This is the only Giant Eagle location within a seven-mile radius, allowing the property to pull from an extended trade area that reaches more than 100,000 residents.
Additionally, the center has a dependable and affluent customer base comprising more than 47,000 residents within a five-mile radius who earn an average annual household income of $115,000.
