Orton Development affiliate acquires Ohio retail center for $35m

An affiliate of Orton Development has closed the $35 million acquisition and the $17.65 million acquisition financing of Perimeter Center, a 138,536-square-foot, grocery-anchored retail center located in Dublin, Ohio, within the Columbus MSA.

JLL represented the seller in this transaction. Kevin Fryman, executive vice president at Hanley Investment Group, and Ed Hanley, president at Hanley Investment group, along with ParaSell, represented the 1031 exchange buyer. JLL also worked on behalf of the new buyer to secure the 10-year, fixed-rate loan through Mutual of Omaha Insurance Co.

The 99 percent–occupied Perimeter Center is anchored by the high-performing Giant Eagle Market District, which has a more than 20-year operating history at the site. Additional tenants include Chipotle, First Watch Rusty Bucket, Crumbl Cookies, Jersey Mikes, Salon Lofts, The Blowout Bar and UPS.

Situated at 6644–6804 Perimeter Loop Road, the property is located off U.S. Route 33,