Midland Atlantic Purchases Maysville Marketsquare Shopping Center
Kroger-anchored center will undergo facility, parking lot and landscaping enhancements
MAYSVILLE, Ky. - Real estate developer Midland Atlantic has acquired Maysville Marketsquare, a 126,000 square foot retail center located at 381 Market Square Drive.
Purchased from Kimco Realty Corporation, the center is anchored by Kroger and also currently houses JC Penney, Fashion Bug, Hallmark, RadioShack and GNC.
Midland Atlantic is planning capital improvements including building enhancements, parking lot improvements and landscaping.
Maysville Marketsquare - built in 1993 - currently has five spaces available for lease, ranging from 1,000 to 6,000 square feet.
"Kroger is a solid anchor to draw other permanent retailers to complement the strong lineup of existing national and regional tenants," said Dave Wik, director of acquisitions for Midland Atlantic.
The property fits well into the business model for Midland's Acquisitions Division, which was introduced in May to purchase grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. The acquisitions group then turns over the property to another Midland division for management and leasing.
"This property is centered in the primary retail hub of the community," said Wik. "With hands-on leasing and property management and our planned capital improvements, it will do well within our model of acquiring properties with capacity for improved performance."
Purchased from Kimco Realty Corporation, the center is anchored by Kroger and also currently houses JC Penney, Fashion Bug, Hallmark, RadioShack and GNC.
Midland Atlantic is planning capital improvements including building enhancements, parking lot improvements and landscaping.
Maysville Marketsquare - built in 1993 - currently has five spaces available for lease, ranging from 1,000 to 6,000 square feet.
"Kroger is a solid anchor to draw other permanent retailers to complement the strong lineup of existing national and regional tenants," said Dave Wik, director of acquisitions for Midland Atlantic.
The property fits well into the business model for Midland's Acquisitions Division, which was introduced in May to purchase grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. The acquisitions group then turns over the property to another Midland division for management and leasing.
"This property is centered in the primary retail hub of the community," said Wik. "With hands-on leasing and property management and our planned capital improvements, it will do well within our model of acquiring properties with capacity for improved performance."
