Atlanta — JLL has announced the closing of the sale of Market Square at Montrose on behalf of LaSalle Investment Management to HP Realty LLC. Purchased for $32.5 million, the 510,231-sq.-ft. retail center hosts anchors Home Depot, J.C. Penney, Levin Furniture, Dick’s Sporting Goods, Regal Cinemas, Toys “R” Us and Cost Plus World Market.
“Akron and similar cities are back in favor with investors,” commented Kris Cooper, a JLL managing director.
Market Square at Montrose occupies a site off an exit ramp for I-77 in the strongest retail submarket in Akron. The center is 96.7% occupied and commands the highest rental rates in the city.