By 1808Delaware
Shoppers visiting The Market at Polaris may see little outward evidence of a major change. PetSmart, Big Sandy Superstore and the center’s other businesses remain open, but the property beneath them now belongs to a new owner.
Chicago-based Core Acquisitions purchased the shopping center for $15.5 million, according to Delaware County property records. The approximately 11-acre property stretches from 1170 to 1194 Polaris Parkway, near Polaris Fashion Place and the Interstate 71 interchange. It includes 111,269 square feet of retail space and was constructed in 2004, according to Institutional Property Advisors, which handled the transaction.
The purchase price works out to approximately $139 per square foot.
Little Space Left to Fill
The Market at Polaris is anchored by PetSmart and Big Sandy Superstore. Its tenant lineup also includes Hand & Stone Massage and Facial Spa, Penn Implants and Dentures and Slick City Action Park. Only one 3,047-square-foot space remains available, next to PetSmart and Hand & Stone, according to leasing information shared following Core’s acquisition. That places the center’s occupancy at approximately 97 percent.
Its location gives the new owner a foothold in one of Central Ohio’s largest retail concentrations. Previous marketing materials placed the average annual household income within three miles at $117,811 and projected the surrounding population would grow by nearly 7 percent between 2024 and 2029.
Core focuses its acquisitions in nine states, including Ohio. The company invests in retail, office, industrial and multifamily properties and also handles property management, leasing and redevelopment through its internal teams, according to the company’s website.
A Center That Refilled Its Largest Vacancy
The center’s present occupancy represents a notable recovery from only a few years ago. A federal filing associated with The Necessity Retail REIT’s acquisition of the property showed The Market at Polaris was just 65 percent occupied as of September 2021. At the time, its tenants had a weighted average of 6.1 years remaining on their leases. U.S. Securities and Exchange Commission
One of the largest steps in refilling the center came in 2024, when Slick City leased 32,143 square feet in the former Bed Bath & Beyond location.
Colliers identified it as the largest Columbus-area retail lease signed during the second quarter of that year. At the time, more than 96 percent of the region’s tracked retail properties were occupied, leaving businesses with relatively few large, well-located spaces from which to choose. Colliers Slick City opened the following spring. The 35,000-square-foot indoor attraction features waterless slides, air courts, a toddler play area and event space. It became the company’s first Ohio location. The addition gave the center an experiential tenant capable of drawing families for longer visits, while filling a large box vacated by a traditional retailer.
Polaris Continues to Attract Investment
The sale comes as investors continue acquiring shopping centers throughout Delaware County, where sustained population and income growth have helped support demand for retail property. Delaware County’s population reached an estimated 242,032 in 2025, an increase of 13 percent from its 2020 estimate base, according to the U.S. Census Bureau.
The Market at Polaris had most recently appeared in the portfolio of Atlanta-based RCG Ventures. In 2025, RCG completed a $1.8 billion purchase of 99 shopping centers from Global Net Lease, more than doubling its national retail holdings. RCG Ventures
No redevelopment or immediate tenant changes have been announced in connection with the latest sale. For shoppers, the transaction may remain largely invisible. For investors, however, the combination of high occupancy, long-term tenants and continued growth surrounding Polaris made the center a $15.5 million vote of confidence in the area’s retail future.
Photo: Creative Commons License
