A shopping center in the Ogden neighborhood has sold for $21.5 million.
Fourth Plain Center, near the intersection of Northeast Andresen Road and Fourth Plain Boulevard, sold this week to an undisclosed buyer, according to Holiday Fenoglio Fowler LP, the Texas-based brokerage who handled the deal.
The center is anchored by a 24-Hour Fitness and a Walgreens, peppered with tenants such as Saigon Restaurant, Rainwater Insurance and Sunrise Salon. It is 117,143 square feet in size.
Owner Ron Keil hoped to shift away from the center to reinvest in centers anchored by grocery tenants, according to Nick Kassab, director with the brokerage.
The bidding process for Fourth Plain Center was “competitive,” Kassab added. With 73 percent occupancy, new owners were drawn to a property where they could immediately sign tenants they valued. Oftentimes they are full and unwieldy, he said.