Devonshire REIT acquires five Ohio properties

Whitehouse, Ohio — Devonshire REIT has acquired five retail properties in Ohio for $31 million. The properties include:



• Monroe Street Square Shopping, a 124,904-sq.-ft. center in Toledo, Ohio, anchored by Hobby Lobby. Tenants include Sally Beauty Supply, Gamestop, Play It Again Sports and Sprint PCS.



• Bed Bath & Beyond Plaza, a 100% leased, 55,139-sq.-ft. center in Toledo, anchored by Bed Bath & Beyond. Tenants include SalonCentric and Edward D. Jones.



• Office Depot Plaza, a 100% leased, 45,594-sq.-ft. center in Toledo, anchored by Office Depot.



• Pier 1 Imports, a 9,860-sq.-ft. single-tenant triple-net leased property in Toledo.



• Villages at Waterville Landing in Waterville, Ohio, a 350-acre mixed-use development with 125 acres zoned for retail development. Devonshire has acquired the retail portion of the project, which currently includes a new 80,000-sq.-ft. Kroger, a Farmers & Merchants State Bank branch and a Speedway fuel center that is under construction. Plans for the undeveloped retail space remain confidential.



The properties were purchased from local real estate developers and investors.