IPA Markets Ohio Center with Dual Grocery Anchors

Marcus & Millichap’s Institutional Property Advisors (IPA) division is marketing The Plaza at Chapel Hill, a 91%-occupied, 458,935-square-foot, dual grocery-anchored regional shopping center in Cuyahoga Falls, OH.

IPA’s Scott Wiles, Erin Patton, Craig Fuller, Joseph French Jr. and CJ Jackson are representing the seller, a New York-based shopping center REIT. The price is open bid.

“The Plaza at Chapel Hill is the dominant center in the trade area and is anchored by Giant Eagle and Burlington with junior anchors Marc’s Grocery Store and T.J. Maxx, all of which are original tenants that have been in place for over 33 years and combined comprise 58% of the occupied gross leasable area,” said Wiles.

He added, “There has been substantial leasing velocity in recent months, with Ross Dress for Less signing a new 10-year triple-net lease on 25,200 square feet; Dollar Tree commencing a seven-year lease; and Arby’s beginning a 20-year ground lease.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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