News Release: PEBB Enterprises Sells Ohio Shopping Center for $29.1 Million

PEBB Enterprises announces the sale of 32 East in Cincinnati, OH to Cleveland, OH- based Stark Enterprises for $29.1 million.

PEBB acquired the 192,000 square foot center, formerly known as Eastgate Station, in November 2013 with an occupancy rate of 53%.  After significant investment was made in the infrastructure and façade and an expansion of the footprint, PEBB began to see an upsurge in retailer interest – culminating a 100% occupancy rate a the time of the sale. Tenants include HomeGoods, Burlington, Michaels, Ulta and Five Below amongst others.

 “Redevelopment projects are extremely satisfying because they give us the chance to not only improve the offering in a community but also to provide a higher quality of service” said PEBB President Ian Weiner. “32 East has been no exception.  It’s been exciting to watch the center come back to life.”