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| Village at the Mall, Florence, KY |
FLORENCE, Ky., April 10, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has arranged the sale of Village at the Mall, a
92,764-square foot shopping center in the Cincinnati/Northern Kentucky
metropolitan area. The terms of the sale were not disclosed.
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| Joel Dumes |
Joel
Dumes, a vice president investments, and Charles Bulger, an
associate, both in the Cincinnati office of Marcus & Millichap, represented
the seller, a private investment group. The buyer is a private investor.
“Well
performing multi-tenant retail properties in the Cincinnati area are being
targeted by investors as household formation and income growth drive retail
sales,” says Dumes. “Northern Kentucky has been outperforming other areas of
the metro as tight vacancy gives owners the leverage to raise rents.”
 |
| Charles Bulger |
The
property is located at 7606 Mall Road in Florence, Ky. at the corner of
Kentucky Route 18 and Mall Road, just off interstates 71 and 75 and across from
the 856,000-square foot Florence Mall. Village at the Mall has two
access points, one of which is a signalized intersection that also serves
Florence Mall.
Developed in 1991, Village at the Mall is 100 percent
occupied. Major tenants include Five Guys Burgers and Fries, a brand new Aspen
Dental, a new freestanding Vitamin Shoppe, a ground-leased Chipotle, Party
City, The Tile Shop, Pier 1 Imports, Dollar Tree, Casual Male and HoneyBaked
Ham.
The property includes three pad sites totaling more than
10,000 square feet.
For a complete copy of the company’s news release, please
contact:
Ben Johnson,
Marketing Director
(925) 953-1736
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