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Hanley Investment Group Arranges Sale of 139,000 Square Foot Grocery Anchor Mall in Columbus, Ohio Metro

DUBLIN, Ohio – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in the sale of commercial properties, today announced that the company has arranged the sale of Perimeter Center, a fully leased 139,486 square feet anchored by a giant eagle Market District grocery store in Dublin, Ohio.

Hanley Investment Group Executive Vice President Kevin Fryman and President Ed Hanley, in association with ParaSell, Inc., represented exchange buyer 1031, a subsidiary of Orton Development, Inc., with offices in Pasadena, California. The seller was an institutional real estate owner, operator and developer with 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 in a Giant Eagle Market District grocery store. Giant Eagle, Inc. is ranked in the top 40 on Forbes’ list of largest private companies and is one of the nation’s largest food retailers and distributors with approximately $9.7 billion in annual sales. Founded in 1931, Giant Eagle, Inc. has grown to become one of the region’s leading food, fuel and drugstore retailers with over 470 stores in western Pennsylvania, north-central Ohio , northern West Virginia, Maryland and Indiana.

“The buyer sold an industrial property in Northern California and wanted to acquire an institutional-grade retail center located in a robust market with strong demographics,” Fryman said. “The average household income within five miles of the mall is $132,000.”

Fryman continues, “The buyer was attracted by the strong sales of Giant Eagle stores, their long-term operating history in the center, and the capital that Giant Eagle was investing in their location at Perimeter Center and throughout the city of Columbus, converting more of their traditional stores to their high-end Market District concept.

Perimeter Center is located on a 15.54 acre parcel on US Route 33 and Avery Road in Franklin County at 6644-6804 Perimeter Loop Road. The grocery-anchored mall was built in 1995 and serves the affluent Dublin community in the Columbus metropolitan area. The mall has 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 enjoys a high daytime population due to its proximity to Nationwide, Wendy’s and Cardinal Health headquarters and easy access from Interstate 270. There are more than 154,000 people within five miles of the mall.

“Rising interest rates put pressure on capitalization rates; however, properties with the best mix of tenants in the best locations were affected the least or not at all. It all comes down to real estate fundamentals – location, tenants and lease terms,” Fryman said.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services firm with over $9.4 billion in transaction experience specializing in the sale of commercial properties nationwide. Our expertise, proven track record and unwavering dedication to putting customer needs first sets us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers and 1031 exchange buyers are unparalleled in the industry, resulting in maximum exposure and price for every property. With unparalleled service, Hanley Investment Group has redefined the retail investment property experience.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact person: Kevin Fryman, Executive Vice President
E-mail: Send an email
Call: 949.585.7674
Address:3500 E. Coast Highway, Suite 100
Town: Crown of the Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/