EQUITY INVESTMENT ACQUIRES TWO CLEVELAND-AREA RETAIL CENTERS

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SHAKER HEIGHTS AND PARMA, OHIO — Fort Wayne, Ind.-based Equity Investment Group has acquired two shopping centers totaling 223,657 square feet from Edens & Avant. The assets are the Heinen’s Fine Foods-anchored Shaker Towne Centre in Shaker Heights and the Giant Eagle-anchored Snow View Plaza in Parma. At the time of closing, Shaker Towne was 85 percent occupied and Snow View was 90 percent occupied. The acquisition price was not disclosed.

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