Holmdel, NJ’s Bennett Capital Advisors acquires $8M Giant Eagle-anchored Ohio retail center

Cushman & Wakefield’s Brad Domenico and team source debt from Provident Bank

Warren, OH — Bennett Capital Advisors (BCA) announced the acquisition of Jamestown Village Plaza, marking BCA’s first acquisition since its inception earlier this year.

Located in Warren, OH, the 107,000 s/f center is anchored by Giant Eagle and was acquired for $8 million, or $75 psf, at roughly 80% occupancy.

This acquisition reflects the type of opportunity the BCA platform has modeled: fundamentally strong real estate with focused ownership, active management, and thoughtful execution to create additional value over time.

BCA plans on strengthening the center’s tenant mix, pursuing new leasing opportunities for inline vacancies and the pursuit of a potential pad site, as well as building a partnership with Giant Eagle and retainment of existing Tenants within the Center.

“This closing exemplifies our thesis of service-based middle-market assets that require a hands-on approach” said Andrew DeNardo, chief investment officer for BCA.

CEO, Tyler Bennett added “Giant Eagle has been a staple here for over 40 years and the combined tenure of the other tenants exceed 20 years. Upside with stability is hard to source and we are incredibly proud and grateful to have gotten this done.”

BCA takes the responsibility of managing its partners’ capital seriously with mutual alignment being a core foundational pillar of BCA.

Nick Binder of Bennett Realty & Development represented BCA and Cushman & Wakefield’s Brad Domenico and his team sourced the debt from Provident Bank. Cushman & Wakefield will also be handling property management and SVN rounds out the team has the exclusive leasing partner.