PEBB Enterprises Closes Sale of Sugarcreek Plaza in Dayton, Ohio
South Florida-based real estate firm sells retail center in $7.45 million transaction
DAYTON, OH – April 22, 2021 – PEBB Enterprises, the entrepreneurial private real estate investment firm based in South Florida, completed the $7.45 million sale of Sugarcreek Plaza in Dayton, Ohio. Sugarcreek Plaza is a nearly 70,000-square-foot retail center on 6.4 acres at 6140-6148 Wilmington Pike.
The transaction closed on April 20, 2021. Pinnacle Leasing & Management LLC is the buyer.
Built in 1987, Sugarcreek Plaza was substantially renovated by PEBB. The firm acquired the property for $2.2 million in January 2016 and made significant investments into the infrastructure and façade of the center, which was completely vacant at the time of PEBB’s acquisition.
PEBB also expanded the site with a 6,000-square-foot in-line space and an outparcel to KFC, which it previously sold in 2018.
Leasing activity was brisk following the completion of the improvements. Notable current tenants include Bed Bath & Beyond, buybuy Baby and Planet Fitness.
“Sugarcreek Plaza was a highly successful long-term investment for our firm,” PEBB Enterprises President and CEO Ian Weiner said. “We were able to showcase PEBB’s ability to reimagine and modernize an existing retail center to maximize its value and attract an exciting mix of tenants. With that accomplished, the timing was right to exit the investment and focus on new acquisition and development opportunities.”
Dan Cooper of Cooper Commercial Investment Group represented PEBB in the sale.
PEBB’s Ohio portfolio includes Hunter’s Ridge Shopping Center near Columbus.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth on a daily basis. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada, New York and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.