Devonshire REIT acquires five Ohio properties

Whitehouse, Ohio — Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:

•    Monroe Street Square Shopping, a 124,904-sq.-ft. center in Toledo, Ohio, anchored by Hobby Lobby. Tenants include Sally Beauty Supply, Gamestop, Play It Again Sports and Sprint PCS.

•    Bed Bath & Beyond Plaza, a 100% leased, 55,139-sq.-ft. center in Toledo, anchored by Bed Bath & Beyond. Tenants include SalonCentric and Edward D. Jones.

•    Office Depot Plaza, a 100% leased, 45,594-sq.-ft. center in Toledo, anchored by Office Depot.

•    Pier 1 Imports, a 9,860-sq.-ft. single-tenant triple-net leased property in Toledo.

•    Villages at Waterville Landing in Waterville, Ohio, a 350-acre mixed-use development with 125 acres zoned for retail development. Devonshire has acquired the retail portion of the project, which currently includes a new 80,000-sq.-ft. Kroger, a Farmers & Merchants State Bank branch and a Speedway fuel center that is under construction. Plans for the undeveloped retail space remain confidential.

The properties were purchased from local real estate developers and investors.


Login or Register to post a comment.