Huber Heights shopping center sells for $8.5M

ExchangeRight, based in Pasadena, invests in properties with tenants holding longer-term leases with initial terms longer than 10 years. It also favors leases backed by investment-grade corporate credit. The company also likes net-leased properties in which tenants are responsible for all operating expenses, including taxes.

In a statement to the Dayton Daily News, a representative of ExchangeRight said: “JRW Realty facilitated the all-cash acquisition of this property on behalf of ExchangeRight. We are actively seeking to acquire grocery-anchored multi-tenant shopping centers and single-tenant properties net-leased to investment-grade companies that offer essential products and services for use in our Net-Lease Portfolio and Value-Add Portfolio platforms.

The company added: “This property met our rigorous acquisition criteria, which favor assets that are backed by tenants like Hobby Lobby that have strong financials, with a focus on properties in advantageous locations. The demographics of the surrounding area in this case are very attractive, with a growing population of over 82,000 people within a five-mile radius, and in the solid Huber Heights submarket of the Dayton area.”