Midland Atlantic Announces Acquisition of St. Mary's Square
The largest shopping center in St. Mary's, OH
St. Mary's, OH -- Midland Atlantic Development has recently acquired St. Mary's Square, a 253,163 square-foot retail center located off of State Route 33 in St. Mary's, Ohio, northwest of Dayton. SR 33 is a key corridor connecting Ft. Wayne, Indiana and Columbus, Ohio.
The center, anchored by K-Mart, JC Penney and Chief Supermarket, is 88% occupied. Other tenants include Sears, Fashion Bug, Maurices, Shoe Show, Bath & Body Works, Hallmark, GNC, Claire's and Radio Shack.
Built in 1990, St. Mary's Square is the largest shopping center in the trade area. Midland Atlantic is planning improvements to the center including building updates and enhancements along with parking lot improvements. "We were initially drawn to the center due to its dominant presence in the market, its great location and solid existing tenant mix," said Dave Wik, Director of Acquisitions for Midland Atlantic.
St. Mary's Square currently has four in-line vacancies and one vacant outparcel building available for lease. "We will be aggressively marketing the vacant spaces to national and regional retailers and anticipate attracting an exciting mix of retailers to complement the strong list of existing tenants," said Wik.
This is the largest purchase to date for Midland Atlantic's Acquisitions Division, which was formed in May, 2007. This division is focusing on the purchase of grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. Upon closing, the acquisitions group turns the property over to another Midland division for management and leasing. "By taking responsibility for all facets of a property's operation, we can ensure the highest quality service, ultimately maximizing the value of our investment," said Wik.
Midland Atlantic is a full-service real estate firm specializing in the development, acquisition, leasing, management and brokerage of retail properties. Midland Atlantic is a leading developer of retail shopping centers in the Midwest and mid-Atlantic regions of the U.S. The firm develops upscale grocery and department store-anchored retail shopping centers, as well as retail build-to-suits. This year commemorates Midland Atlantic's 10th anniversary.
St. Mary's, OH -- Midland Atlantic Development has recently acquired St. Mary's Square, a 253,163 square-foot retail center located off of State Route 33 in St. Mary's, Ohio, northwest of Dayton. SR 33 is a key corridor connecting Ft. Wayne, Indiana and Columbus, Ohio.
The center, anchored by K-Mart, JC Penney and Chief Supermarket, is 88% occupied. Other tenants include Sears, Fashion Bug, Maurices, Shoe Show, Bath & Body Works, Hallmark, GNC, Claire's and Radio Shack.
Built in 1990, St. Mary's Square is the largest shopping center in the trade area. Midland Atlantic is planning improvements to the center including building updates and enhancements along with parking lot improvements. "We were initially drawn to the center due to its dominant presence in the market, its great location and solid existing tenant mix," said Dave Wik, Director of Acquisitions for Midland Atlantic.
St. Mary's Square currently has four in-line vacancies and one vacant outparcel building available for lease. "We will be aggressively marketing the vacant spaces to national and regional retailers and anticipate attracting an exciting mix of retailers to complement the strong list of existing tenants," said Wik.
This is the largest purchase to date for Midland Atlantic's Acquisitions Division, which was formed in May, 2007. This division is focusing on the purchase of grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. Upon closing, the acquisitions group turns the property over to another Midland division for management and leasing. "By taking responsibility for all facets of a property's operation, we can ensure the highest quality service, ultimately maximizing the value of our investment," said Wik.
Midland Atlantic is a full-service real estate firm specializing in the development, acquisition, leasing, management and brokerage of retail properties. Midland Atlantic is a leading developer of retail shopping centers in the Midwest and mid-Atlantic regions of the U.S. The firm develops upscale grocery and department store-anchored retail shopping centers, as well as retail build-to-suits. This year commemorates Midland Atlantic's 10th anniversary.
