An out-of-state real estate firm that’s hoping to build a downtown apartment building is now the owner of a Hilliard shopping center.
Detroit-based Broder & Sachse Real Estate recently purchased the Shoppes at Haydens Crossing, a 70,366-square-foot shopping center at Cosgray and Hayden Run roads. A price for the transaction hasn’t been registered with the Franklin County Auditor and the company didn’t disclose the sale price.
Pittsburgh, Pennsylvania-based Echo Realty was the property’s seller.
The center is anchored by a Giant Eagle and also includes a Get Go Cafe + Market, Marco’s Pizza, Great Clips, dentist practice and hair salon, with one vacant space.
“As the fastest-growing metro area in the Midwest, Columbus is a premier market we’re proud to add to our portfolio,” Broder & Sachse CEO Richard Broder said in a statement. “We are committed to building and maintaining a sense of community that radiates beyond a single structure. Haydens Crossing meets a need in the local community as one of the major grocery stores in the area, augmented with other shops and services, making it a go-to spot for this growing area in Hilliard.”
Broder & Sachse owns 60 properties, including more than 6.7 million square feet of multifamily, office, industrial, and mixed-used developments. Earlier this year the company said it wanted to build a seven-story, 220-unit apartment building along Grant Avenue downtown, though that project has yet to be approved by the Downtown Commission.
Echo Realty bought the Haydens Crossing land for $2.9 million in 2006 before building the development. The property has a current market value of about $9.24 million, according to the Franklin County Auditor.
Echo Realty’s data show a population of 39,700 within a 3-mile radius of this development with a median household income of $92,373, and 1,425 active businesses. That 3-mile radius has seen a 70% increase in population since 2000, according to Echo Realty, and both roads at the intersection average over 10,000 cars a day.