Shoppes at River Ridge

Dublin, OH

Property Characteristics

  • 95,000 square-foot lifestyle shopping center
  • Located in an affluent suburb of Columbus, OH

Acquisition

  • December 2011

Investment Opportunity

  • Bank-owned property developed just prior to the Great Recession
  • Unlevered acquisition at a fraction of replacement cost
  • Located in an area with superb demographics

Execution

  • Property only 18% occupied at its lowest point; through aggressive leasing, increased occupancy to its present 98%
  • Terminated anchor lease to earn a substantial fee and sold an outparcel to reduce cost basis
  • Repositioned away from national lifestyle retailers to quality tenants displaced by local redevelopment