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Four area Walmart sites part of $75M sale


Three Walmart sites in Montgomery County and one in Springfield have new owners.

Colliers International Ohio Investment Services has completed the sale of two separate retail portfolios, or 10 individual properties, including Walmart sites in Springfield, Huber Heights, Clayton and Moraine, the company said.

Altogether, the portfolios total nearly $112 million and 1,243,227 square feet, Colliers said in an announcement Tuesday.

The Walmart portfolio consisted of three Walmart-anchored retail centers and four Walmart shadow-anchored retail centers totaling 860,938 square feet.

Four Walmart-anchored centers included in the sale are in the Dayton area – Huber Heights, Clayton, Moraine and Springfield, Colliers said.

The Walmart shadow-anchored retail centers included tenants such as Marshall’s, Jo-Ann Fabric and Craft Store, PetSmart, Staples, Dollar Tree, Rent-A-Center, Sherwin Williams and other national retail tenants.

Also sold were Walmart stores in Petoskey, Mich., Noblesville, Ind. and Findlay, Ohio.

All seven Walmart properties were sold to Phillips Edison Co. for a total of $75.2 million, Colliers said. The sales included individual Walmart stores and retail properties around the stores.

Another portfolio sale consisted of three Lowe’s Home Improvement stores in Ohio and Kentucky for $36.7 million and about 382,000 square feet.

The three properties were in Zanesville and Fremont, Ohio, and Florence, Ky., and were purchased by Cole Capital.

“Both portfolios were attractive to investors because of their stability, superior condition and location,” Jeff Johnston, a Colliers senior vice president, said in a release. “It’s good to see institutional capital migrating back into the Midwest for high-quality assets such as these.”

Johnston, Chris Prosser and Steve Timmel, brokerage senior vice presidents with Colliers International in Ohio, represented the seller in each transaction.


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