Bryn Mawr, Pa. -- WP Realty and Angelo, Gordon & Co. announced Tuesday the sale of Fairlawn Town Centre located in Fairlawn, Ohio.
Fairlawn is located just west of Akron; Fairlawn Town Centre is a 447,037-sq.-ft. community shopping center anchored by Giant Eagle, Target (separately owned), Home Goods, Pet Supplies Plus, Ashley Furniture and Marc’s. In-line retail tenants include U.S. Post Office, Chuck E. Cheese, Panera Bread, GNC, Subway and RadioShack.
WP Realty purchased Fairlawn in May 2010. The acquisition of the center included a vacant 39,840-sq.-ft. junior anchor box formerly occupied by Circuit City. Fairlawn Town Centre provided an opportunity to acquire a well-located, stable grocery-anchored shopping center with considerable immediate upside through the lease-up of the vacant anchor and inline space.