JLL closes sale of nine-property multi-state retail portfolio in Indiana, Michigan, Ohio and West Virginia

Amy Sands

CHICAGO, IL, Sept. 9, 2019 – JLL announced today that it has closed the sale of portfolio comprising nine retail centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia.

Clinton Mitchell

JLL represented the seller, ShopOne Centers REIT, a leading owner, operator and manager of high-quality grocery-anchored shopping centers. Albanese Cormier Holdings purchased the portfolio in an off-market transaction.

The nine properties include two Indiana properties, Forest Park Plaza in Brazil and Pine Lake Shopping Center in LaPorte. 

The five Ohio properties are Amberwood Center in Ashland; Barberton Shopping Center in Barberton; DeVeaux Village Shopping Center and Reynolds Plaza in Toledo; and Perrysburg Market Place in Perrysburg. 

Additionally, there is one Michigan property, Phoenix Square in South Haven, and one West Virginia property, Huntington Mall in Barboursville.

The portfolio is 92% leased primarily to national tenants like Kroger, Giant Eagle, Anytime Fitness, Michaels, Dollar Tree, Ollie’s Bargain and more. 

The sale represents an expansion for the buyer into Michigan, Ohio and West Virginia, having already established a strong presence in Indiana.

The JLL Capital Markets team that represented the seller included Managing Directors Clinton Mitchell and Amy Sands along with Senior Managing Directors Frederick Whitman and Kenneth Martin and Managing Director Bill Poffenberger.

Bill Poffenberger

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 advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by 

Contact: 

Kimberly Steele,

JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: kimberly.steele@am.jll.com

www.ShopOne.com.
jll.com.
www.ach-us.com