Marcus & Millichap negotiated the sale of The Plaza at Sawmill Place in Columbus, Ohio.

The value of the transaction was $19.5 million.

A New York-based investment partnership purchased the property from Lamar Cos. of Morristown, N.J.

The Plaza at Sawmill Place is located at 2700 Sawmill Blvd. in an affluent northwest suburb of Columbus. The 194,754-square-foot center was constructed in 1987. In addition to Circuit City, tenants include Blockbuster, Hobby Lobby, Ohio Savings Bank, Olan Mills Inc., Red Lobster, Starbucks, The Fitness Store and Trek Bikes. The sale includes additional land that could potentially accommodate 20,400 square feet of development.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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