FAIRLAWN, OH-WP Realty, based in Bryn Mawr, PA, has purchased the 447,037-square-foot Fairlawn Town Centre retail property here. The company bought the 55-year-old center with assistance from Angelo, Gordon & Co. The sales price and former owner was not provided.
The property has five buildings, including one restaurant pad, and is anchored by retailers such as Giant Eagle, Home Goods and Pet Supplies Plus. Smaller tenants include subway, Chuck E. Cheese, the US Post Office, Panera Bread and Radio Shack. The site also includes 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 roughly 64,000 square feet of vacancy at the site. Rents at the site range from $13.50 to $16 per square foot, according to managers Edens & Avant Inc. The property is just south of the Cleveland retail area, about five miles from the University of Akron.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
