Hendon Properties Acquires 734,199 SF Shopping Center in Parma, Ohio

PARMA, OHIO — Hendon Properties, in a joint venture with Axiom Realty and Peaceable Street Capital, has acquired The Shoppes at Parma in the Cleveland suburb of Parma. Anchor tenants at the 734,199-square-foot shopping center include Walmart Supercenter, Burlington, Dick’s Sporting Goods and grocer Marc’s. The deal includes six outparcels with a variety of tenants such as Crumbl Cookies, T-Mobile, Five Guys Burgers & Fries and Panera Bread. Opened in 1956, the property was formerly known as Parmatown Mall. The asset marks the fifth acquired by The Hendon Properties Opportunity Fund, which now totals more than 1.3 million square feet in its portfolio.