FAIRLAWN, OH-WP Realty, based in Bryn Mawr, PA, has purchasedthe 447,037-square-foot Fairlawn Town Centre retail property here.The company bought the 55-year-old center with assistance fromAngelo, Gordon & Co. The sales price and former owner was notprovided.

The property has five buildings, including one restaurant pad,and is anchored by retailers such as Giant Eagle, Home Goods andPet Supplies Plus. Smaller tenants include subway, Chuck E. Cheese,the US Post Office, Panera Bread and Radio Shack. The site alsoincludes a Target that is separately owned.

There’s a vacant former Circuit City store also on the property.This 40,000-square-foot empty store is included in the roughly64,000 square feet of vacancy at the site. Rents at the site rangefrom $13.50 to $16 per square foot, according to managers Edens& Avant Inc. The property is just south of the Cleveland retailarea, about five miles from the University of Akron.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.