Courtesy of The Plain Dealer and Cleveland.com

by Michelle Jarboe,  April 5, 2017

AURORA, Ohio — DDR Corp. has sold a Portage County shopping center in a $13.1 million deal with an out-of-state buyer.

Headwater Capital, a private-equity firm based in Idaho, bought Barrington Town Center on March 29, according to property records. The 113,000-square-foot center, which includes a Cinemark movie theater, is 97 percent occupied. The sale did not include the adjacent Heinen’s grocery store, which DDR did not own.

Beachwood based DDR, which is publicly traded, has been selling off smaller centers that don’t fit with the company’s narrowed focus on larger properties dominated by national retailers. As of February, the company owned and managed 317 shopping centers, regulatory filings show, down from more than 700 only nine years before.

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