Devonshire REIT buys Erie Commons for $18.35M

Devonshire REIT has acquired an open-air shopping center, Erie Commons, for $18.35 million in the Cleveland area. The center is anchored by Burlington Coat Factory and Jo-Ann Stores and was sold by an investor group led by Joseph G. Padanilam. This is the REIT’s second local investment in a retail asset. Read the Crain’s Cleveland Business story here