FAIRVIEW PARK, OHIO — JLL Capital Markets has arranged the $51.5 million sale of Westgate Shopping Center, a 311,440-square-foot regional power center located in the Cleveland suburb of Fairview Park. Originally built in the mid-1950s and renovated in 2007, Westgate Shopping Center sits on 55 acres. Michael Nieder and Brian Page of JLL’s Investment Sales and Advisory team represented the seller, The RH Johnson Co., in the transaction. The buyer was Phillips Edison & Co. Target, Lowe’s Home Improvement, Kohl’s, Planet Fitness, Petco, Marshalls and Ulta Beauty anchor the center, which was 97.2 percent leased at the time of sale. Other tenants include Bath & Body Works, Five Guys, Jersey Mike’s, Club Pilates, The Joint, Great Clips and Five Below. In the past three years, ownership has executed 17 new leases or relocations and 13 extensions totaling more than 130,000 square feet.
