Real Estate

Section of Southland Crossings Sold for $17.75M

BOARDMAN, Ohio — Maryland-based Broad Reach Retail Partners has acquired Southland Crossings Shopping Center at 1300 Doral Drive for $17.75 million. The retail center is part of a 537,057-square-foot complex featuring a Giant Eagle supermarket, Walmart Supercenter and Lowe’s.

The portion of the property acquired by Broad Reach totals 242,154 square feet and is 70% occupied.

In February 2018 Walmart LLC purchased its building for $6 million, according to county records. In July 2017, Terraza 7 LLC purchased the Lowe’s site for $14.7.

Southland Crossing Oh LLC paid $41.7 million in March 2017 to buy the entire retail site.

The recent transaction, which closed July 15, was the largest commercial real estate deal last month in Mahoning, Trumbull and Columbiana counties.

Another large transaction was the $1.04 million sale July 31 of a Class A office building at 6599 Seville Drive in Canfield.

The building, constructed in 2006, was purchased by Trilogy Realty LLC, which is based in Canfield and operated by James Sabatine Jr. The seller was E.K. Land Co., which is owned by David Kovass and lists its headquarters as inside the Seville Drive building.

For a full list of the largest commercial real estate transaction during July, see the MidAugust edition of The Business Journal, in subscribers’ mailboxes this week. CLICK HERE

Published by The Business Journal, Youngstown, Ohio.