ShopOne Centers REIT has sold nine retail centers totaling 758,983 square feet in Indiana, Michigan, Ohio and West Virginia. Financial terms were not disclosed.
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 percent leased primarily to national tenants such as 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.
