Realty Income has shelled out $18.9 million for the Fairlawn/Akron Lowe’s at 186 N. Cleveland‑Massillon Road, adding a 129,308‑square‑foot, fully leased big‑box to its national net‑lease portfolio. The single‑story home improvement store will stay put under the existing lease, keeping a familiar anchor on one of the area’s busier retail corridors.
According to CoStar, Realty Income Corporation bought the building from Franklin Management Company for $18.9 million, or about $146.57 per square foot. Yesterday's report describes the property as a fully leased, single‑story retail asset.
Commercial listing material and county parcel data line up on the basic stats. LoopNet lists the property as a 129,308‑square‑foot store on roughly 19 acres (APN 05‑00589), while Lowe’s official store page confirms the Fairlawn location at 186 N. Cleveland‑Massillon Rd. Together, these public records support the size and location details cited in trade coverage.
Why Realty Income Bought It
Realty Income has been steadily pouring capital into single‑tenant, corporate‑backed retail this year, and the Fairlawn Lowe’s fits that playbook cleanly. The company’s Q1 2026 supplemental report shows about $2.8 billion invested in the quarter, much of it aimed at predictable, long‑term rent streams. A fully leased, brand‑name home improvement box in a stable suburban pocket is essentially textbook material for the REIT’s net‑lease strategy.
What This Means For Akron
For local shoppers, it is business as usual. The Lowe’s stays under its corporate lease, and Realty Income typically holds these kinds of properties for steady income rather than quick redevelopment. Broker contact information tied to the sale points to Rami Gulli of Legacy Commercial Real Estate Advisors, as listed in his broker profile on LoopNet, and Summit County deed records will ultimately show the ownership handoff once all filings are processed.
