Carriage Place shopping center, a 25-year-old property at Bethel and Sawmill roads, has been purchased for $45 million by New Jersey-based First National Realty Partners.

First National Realty Partners paid $45 million for the 280,000-square-foot center anchored by Walmart and Cinemark Theatres.

Columbus-based real-estate developer and manager Casto was the seller.

Anthony Grosso, managing principal of First National, said his firm is retaining Casto in a joint venture to work with his company on managing and leasing the center.

Grosso said the property is 89 percent leased, and the focus now will be on leasing remaining storefronts.

He said he does not forsee major renovations or changes in the short term, but emphasized his company purchased the property for "the long term" and will make upgrades down the road as needed.

Tenants, however, have made changes already. Cinemark renovated its theaters there in 2016, changing them from second-run to first-run theaters.

Built 28 years ago by developer Richard Solove, the center was originally anchored by a Big Bear supermarket and included a Drug Emporium drugstore. Grosso called Carriage Place, his company's first acquisition in Columbus, "a momentous addition to our portfolio."

He said First National likes Columbus as a market in which to invest, and is looking for other properties to acquire.

mrose@dispatch.com

@MarlaMRose