{"id":1004604266,"date":"2022-09-27T03:46:27","date_gmt":"2022-09-27T11:46:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004604266"},"modified":"2022-12-09T02:11:48","modified_gmt":"2022-12-09T10:11:48","slug":"orton-development-buys-columbus-area-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/","title":{"rendered":"Orton Development Buys Columbus-Area Retail Center"},"content":{"rendered":"
\"Perimeter

Perimeter Center. Image courtesy of Hanley Investment Group<\/p><\/div>\n

California-based Orton Development<\/strong> has acquired Perimeter Center, a 139,486-square-foot retail center in Dublin, Ohio, as part of a 1031 exchange. SITE Centers<\/strong> sold the property for $35 million, according to CommercialEdge information.<\/p>\n

The same data provider shows Orton financed the purchase with a $17.7 million loan from Mutual of Omaha. JLL<\/strong> represented the seller, while Hanley Investment Group<\/strong> Real Estate Advisors<\/strong> and ParaSell Inc.<\/strong> assisted the buyer.<\/p>\n

Perimeter Center came online in 1995 at 6644 Perimeter Loop Road. Anchored by a Giant Eagle Market District grocery store, the shopping center was fully leased at the time of sale; tenants include Chipotle, Edward Jones, Sport Clips and Enterprise Rent A Car, among others. The 15.5-acre property is adjacent Interstate 270 and within 15 miles of downtown Columbus, Ohio, near numerous corporate offices and headquarters.<\/p>\n

The Hanley Investment Group team representing the buyer was led by President Ed Hanley and Executive Vice President Kevin Fryman. The JLL Retail Capital Markets team led by Managing Directors Clinton Mitchell and Amy Sands assisted the seller.<\/p>\n

Fryman contextualized the purchase further, telling Commercial Property Executive<\/em>, “We view Perimeter Center as one of the best shopping centers in the Columbus retail market. This is because Perimeter Center is anchored by Market District, Giant Eagle\u2019s high-end concept; one of only three Market District stores currently operating in the Columbus metro. The shopping center is located in the city of Dublin, one of the most affluent markets in Columbus.”<\/p>\n

Columbus\u2019 continued retail success<\/h2>\n

Amid the specter of a recession <\/a>and uncompromising inflation and interest rates, retail fundamentals remain strong, with more socially oriented dining and entertainment-related businesses witnessing rapid returns to their pre-pandemic habits.<\/p>\n

Columbus in particular is seeing strong demand in nearly all of its retail sectors, even in the face of nationwide construction delays. Much of this growth is due to the area\u2019s emerging tech and research sectors, which culminated in Intel\u2019s recent groundbreaking<\/a> on a $20 billion chip manufacturing plant. Some 640,000 square feet of retail space will enter Columbus’ inventory by the end of the year, with rents increasing by 3.8 percent, while the vacancy rate will remain at 4.1 percent, according to a Marcus & Millichap report<\/a>.<\/p>\n

Acknowledging the strength of the Columbus retail market in the context of rising interest rates, Fryman said in prepared remarks, those properties with the best tenant mix in the best locations have been impacted the least or not at all. It is all down to real estate fundamentals: The location, the tenants and the lease terms.<\/p>\n","protected":false},"excerpt":{"rendered":"

SITE Centers sold the fully leased property.<\/p>\n","protected":false},"author":3012,"featured_media":1004604263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1585,21743,13,21742,21749],"tags":[33902,32796,51707,51706],"class_list":["post-1004604266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-columbus","category-deals","category-midwest","category-latest","category-retail","tag-hanley-investment-group","tag-jll","tag-orton-development","tag-parasell-inc"],"acf":[],"yoast_head":"\nHanley and JLL Close Sale of Columbus Retail Center - CPE<\/title>\n<meta name=\"description\" content=\"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orton Development Buys Columbus-Area Retail Center\" \/>\n<meta property=\"og:description\" content=\"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-27T11:46:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:11:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"801\" \/>\n\t<meta property=\"og:image:height\" content=\"621\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Frank\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/\",\"name\":\"Hanley and JLL Close Sale of Columbus Retail Center - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg\",\"datePublished\":\"2022-09-27T11:46:27+00:00\",\"dateModified\":\"2022-12-09T10:11:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\"},\"description\":\"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg\",\"width\":801,\"height\":621,\"caption\":\"Perimeter Center. Image courtesy of Hanley Investment Group\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Orton Development Buys Columbus-Area Retail Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c\",\"name\":\"Gabriel Frank\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90\",\"caption\":\"Gabriel Frank\"},\"description\":\"Gabriel Frank is a Senior Associate Editor with Multi-Housing News and Commercial Property Executive. He has a background in journalism, and is the editor of MHN's Daily and Weekly newsletters. He lives in New York City.\",\"birthDate\":\"2000-05-11\",\"gender\":\"Male\",\"jobTitle\":\"Editor\",\"worksFor\":\"Yardi Systems\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gabriel-frank\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Hanley and JLL Close Sale of Columbus Retail Center - CPE","description":"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/","og_locale":"en_US","og_type":"article","og_title":"Orton Development Buys Columbus-Area Retail Center","og_description":"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.","og_url":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-09-27T11:46:27+00:00","article_modified_time":"2022-12-09T10:11:48+00:00","og_image":[{"width":801,"height":621,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg","type":"image\/jpeg"}],"author":"Gabriel Frank","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/","url":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/","name":"Hanley and JLL Close Sale of Columbus Retail Center - CPE","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg","datePublished":"2022-09-27T11:46:27+00:00","dateModified":"2022-12-09T10:11:48+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c"},"description":"The two brokerage teams represented the unnamed buyer and seller of the Columbus retail center, which was acquired in a 1031 exchange.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg","width":801,"height":621,"caption":"Perimeter Center. Image courtesy of Hanley Investment Group"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/orton-development-buys-columbus-area-retail-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Orton Development Buys Columbus-Area Retail Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cf1bfd2d6753f6ea305911ffd020862c","name":"Gabriel Frank","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/GF2.jpg?w=90","caption":"Gabriel Frank"},"description":"Gabriel Frank is a Senior Associate Editor with Multi-Housing News and Commercial Property Executive. He has a background in journalism, and is the editor of MHN's Daily and Weekly newsletters. He lives in New York City.","birthDate":"2000-05-11","gender":"Male","jobTitle":"Editor","worksFor":"Yardi Systems","url":"https:\/\/www.commercialsearch.com\/news\/author\/gabriel-frank\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Perimeter-Center_Giant-Eagle-Market-District_OH-e1664218630220.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004604266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3012"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004604266"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004604266\/revisions"}],"predecessor-version":[{"id":1004604478,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004604266\/revisions\/1004604478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004604263"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004604266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004604266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004604266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}