Phillips Edison & Co. Acquires Retail Asset At 20900 Westgate Mall Drive For $51.5M
20900 Westgate Mall Drive
$51,500,000
Units
311,442
Asset Type
Retail
Closing
Jun 26, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 20900 Westgate Mall Drive in Cleveland, OH. The property comprises 311,442 square feet and was sold for $51,500,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $51,500,000.00
- Buyer: Phillips Edison & Co.
- Seller: The RH Johnson Co.
- Market: Cleveland, OH
Phillips Edison & Co. acted as the buyer in this transaction, while The RH Johnson Co. represented the seller. The successful conclusion of this deal reflects the interests of both companies in the retail sector.
Players
Fairview Park Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93