Generational dual-grocery anchored shopping center trades hands in Cleveland MSA

CHICAGO, Aug. 20, 2025 – JLL Capital Markets announced today that it has secured the sale of Ridge Park Square, a rare dual-grocery anchored regional shopping center located in Brooklyn, Ohio's dominant retail corridor.

JLL worked on behalf of the seller, an affiliate of Zeisler Morgan Properties. The buyer was RCG Ventures, LLC.

Ridge Park Square is strategically positioned at 4788 Ridge Rd. at the intersection of I-480 and Ridge Rd., offering exceptional visibility with direct interstate access and 128,284 vehicles per day. This prime location serves as a regionally dominant shopping center in one of Cleveland's most established retail markets, generating over 6.1 million annual visitors.

The 386,754-square-foot retail center is 95% leased and features a strong dual-grocery anchor tenant mix with Marc's and Grocery Outlet representing the grocery anchors. The property boasts exceptional tenant performance with strong national retailers such as TJ Maxx, Ross Dress for Less, Dollar Tree, Five Below, AMC Theatres, Michaels and Ashley Furniture.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Director Michael Nieder and Directors Brian Page and Mohsin Mirza.

"Ridge Park Square represented a generational opportunity to acquire a dual-grocery anchored asset that had never been marketed since its original development in 1989," said Nieder. "The property's exceptional location, tenant performance and exit flexibility resulting from 16 separate tax parcels made it an attractive opportunity for the buyer."

"We are pleased to facilitate this significant transaction for both parties," added Page. "With its dominant market position and multiple value creation opportunities, Ridge Park Square presents excellent potential for RCG Ventures in the years to come."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Zeisler Morgan Properties Ltd. is a privately owned full service retail shopping center development company founded in 1976 and headquartered in Cleveland, Ohio, with a philosophy of developing and retaining properties for generations. The company has developed over 2,000,000 square feet of shopping centers nationwide with current holdings in Ohio and North Carolina. Zeisler Morgan's capabilities span four critical areas: development, investment, leasing and management.

RCG Ventures ("RCG") is a vertically-integrated real estate investment firm led by a team of professionals that specialize in the acquisition, development, leasing, management and financing of multi-tenant retail real estate across the U.S. Since its inception in 2003, RCG has specialized in the ownership of best-in-class shopping centers anchored by national tenants, having acquired approximately $3.4 billion in retail assets spanning 36.2 million square feet across 34 states. For more information on RCG, please visit: https://rcgventures.com/.