Marcus & Millichap Arranges Sale of Columbus Retail Center
- May 17, 2017
The Patton | Wiles | Fuller Group of Marcus & Millichap, announced the sale of a 210,036-square-foot retail shopping center in Columbus, Ohio. Northland Plaza traded for $4.5 million, or nearly $21 per square foot.
Erin Patton, Scott Wiles and Craig Fuller, senior vice presidents & directors with Marcus & Millichap’s National Retail Group, had exclusivity in marketing the property on behalf of the seller. After less than one week of bidding offers, the selling team procured the buyer, a local investor.
Located at 2769 Northland Plaza Drive, just 11 miles from downtown Columbus and The Ohio State University, the retail center boasts a 92 percent occupancy with Discount Fashion Warehouse, Scare-A-Torium and Family Thrift as anchors. The tenant roster also includes a mix of retailers and dining businesses such as GNC, CSL Plasma, Donatos Pizza and Steak’n’Skake.
Northland Plaza was built in 1987, sits on 24 acres of land and offers 1,194 parking spaces. The property serves a dense infill area, with more than 270,000 residents living within 5 miles. The other mall in the nearby area is Columbus Square Shopping Center.
Last month, Marcus & Millichap’s Atlanta office arranged another shopping mall sale in one of Atlanta’s submarkets.
Image courtesy of Marcus & Millichap