Cincinnati firm pays $20.4 million for Polaris-area shopping center
COLUMBUS, Ohio (WCMH) — A shopping center near Polaris Fashion Place is now under new ownership after a $20 million sale.
Oak Creek Center at 1182 E. Powell Road was purchased on May 12 for $20,350,000, according to the Delaware County auditor's office. The 104,124-square-foot complex was acquired by Philips Edison & Company, a Cincinnati-based real estate firm that operates grocery-anchored shopping centers.
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'Our diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in strong demographic markets,' the company's site states. Designed to support the businesses operating at each center, our goal is to provide the most effective array of goods and services to local consumers.'
A marketing brochure boasts the East Powell Road center as hosting 'a strong tenant mix,' with stores like Fleet Feet Sports, Pulp Juice Smoothie Bar, Miracle Ear, Fit Body Boot Camp, and Sherwin Williams. Other tenants include Taranto's Pizzeria, Skybox Sports bar, Goodyear, Blooming Nails Spa, The Pancake House, Ohio State Optical and more.
Built in 1998 and sitting on 6.5 acres, the complex was previously owned by CRI Oak Creek LLC, who acquired the center in 2012 for a recorded $0. Before CRI, the last sale documented by the auditor's office was in June 2004 for $10,993,000 by Casna Limited Partnership.
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Philips Edison & Company's portfolio includes more than 320 shopping centers in the U.S., making up 33.5 million square-feet. The firm also operates Georgesville Square at 1516 Georgesville Square Drive with a Lowe's and a Kroger, and the Trader Joe's Center at 6301 Sawmill Road in Dublin.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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