PEBB Enterprises Closes $10 Million Sale of Columbus-area Retail Property
COLUMBUS, OH – Oct. 3, 2022 – PEBB Enterprises, the South Florida-based private equity real estate investment company with a national commercial real estate portfolio, completed the $10 million sale of Hunter’s Ridge Shopping Center near Columbus, Ohio. Hunter’s Ridge is a well-located, 84,724-square-foot neighborhood retail center in the Columbus suburb of Gahanna.
WB Ventures, LLC, led by James Nizzo, is the buyer of the center located at Highway 270 and Hamilton Road. The transaction closed on Sept. 27.
Hunter’s Ridge is currently 93% occupied. Planet Fitness and Goodwill are the two largest tenants at Hunter’s Ridge, combining to occupy 42% of the center’s rentable square footage. The center is shadow anchored by a 103,000-square-foot Kroger Marketplace.
The Taco Bell and McDonald’s outparcels were not included in the sale to WB Ventures.
PEBB acquired Hunter’s Ridge through a special servicer in 2018.
“Hunter’s Ridge was another successful Midwest investment for our company,” PEBB President and CEO Ian Weiner said. “The center’s diverse tenant mix and location in a rapidly growing submarket make it appealing to retail investors. We continue to target high-quality retail acquisitions in areas experiencing substantial population and employment growth.”
Built in 1975 on 7.31 acres, Hunter’s Ridge has a variety of national, regional and local retail and restaurant tenants. It is just 10 minutes from the John Glenn International Airport and eight miles east of downtown Columbus.
Cushman & Wakefield’s Evan Halkias and Hank Davis represented PEBB in the sale of Hunter’s Ridge Shopping Center.