Midland Atlantic Press Releases

Midland Atlantic Completes Construction on New Haven Commons

2009-03-17T08:43:00.002-05:00

Staples is now open, leasing underway

Harrison, OH - Midland Atlantic has completed construction on the New Haven Commons shopping center. The center is located in Harrison, Ohio on Biggs Boulevard near the New Haven Road interchange on Interstate-74.

New Haven Commons is anchored by a 14,600 square-feet Staples store, which opened to the public in February. Staples is the first tenant to take up residence in the 20,000 square-foot center and has signed a long-term lease agreement, indicating their confidence in the market. Leasing is underway for adjacent retail space ranging from 1,200-2,800 square-feet. "We are in talks with multiple small shop tenants as well as restaurant users for the remaining spaces. We anticipate securing additional tenants for the shopping center in the near future," said Michael Small, Development Manager for the project.

The Harrison area has seen marked growth over the past few years. "While many projects are being halted throughout Cincinnati, Midland Atlantic is continuing to develop key projects in thriving areas," said John Silverman, Managing Principal of Midland Atlantic. New Haven Commons is the first project in the Harrison area for Midland Atlantic.

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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.

Midland Atlantic Wins Award for Tryon Village

2009-03-17T08:40:00.002-05:00

Selected as Top Retail Development

Cary, NC - Midland Atlantic has received the Triangle Business Journal's 2008 Space Award for the Top Retail Development in the region for the Shopping Center portion of its Tryon Village project.

Tryon Village, located at Walnut Street and Tryon Road, is a 90-acre, mixed-use development featuring upscale retail, restaurants, townhomes, apartments, and future Class A office space. Anchored by a 49,000-square-foot Harris Teeter grocery store, Phase I of the retail component is complete. The retail center features a mix of tenants including Starbucks, Bruegger's Bagels, Restology and Jimmy John's, along with a freestanding Walgreen's store. "We have leased over 90% of the available space and our retailers are doing well, despite difficult market conditions," said Jeff Vittert, a Midland Principal and development manager for the center. "In spite of the current climate, we remain confident in Tryon Village's potential and its long term position in the Triangle area."

Construction on Phase II of the project is slated to being in late Spring 2009 and will initially bring another 16,500 of 40,000 square-feet of retail space to the development. "We will continue to add a convenient mix of shopping, retail service and dining options to the thriving Crossroads area of Southeast Cary," said Vittert.

Midland Atlantic assembled the land for the development and has worked with The John R. McAdams Company engineering firm to establish green space and pedestrian friendly-areas to connect and complement the multiple components of Tryon Village. "This has been an exciting development and we are honored to have been recognized by the Triangle Business Journal for our efforts," said John Silverman, Managing Principal of Midland Atlantic.

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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.

Midland Atlantic Continues Construction on East Viking Plaza

2009-03-10T10:41:00.001-05:00

First Target store in Cedar Falls near completion

Cedar Falls, IA - Midland Atlantic continues construction of the $43 million East Viking Plaza retail development in Cedar Falls. Located at the Southwest Corner of Viking Road and Highway 58, the project encompasses 33 acres and is directly across from a recently relocated Super Wal-Mart.

The 260,000-square-foot project will be anchored by the first Target store in Cedar Falls and will feature a diverse mix of retail shops and restaurants. Construction on the 132,000-square-foot Target store is due to be completed this summer with the scheduled store opening in late July. "The Target store is an exciting addition to the existing retail base in Cedar Falls," said Michael Small, Development Manager for the project.

Leasing is underway for East Viking Plaza, with both large and small shop spaces available adjacent to Target and outlots available fronting Viking Road. "We anticipate attracting both local and national retailers to the development, many of which will be new to the market," said Small. "With its close proximity to the University of Northern Iowa, downtown Cedar Falls and Waterloo, East Viking Plaza is well positioned in this rapidly growing area and is sure to become a key shopping destination."

Designed by RSP Architects (Minneapolis, MN), the development will feature single-story buildings with connecting walkways and pedestrian-friendly gathering areas. The five outlots are ideal locations for casual dining or other restaurant concepts. Reece Campbell, Inc. (Cincinnati, OH) is the general contractor.

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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.

Midland Atlantic Announces Grand Opening of Rushmore Crossing

2009-03-09T17:00:00.002-05:00

Phase I completed, development slated for future growth

Rapid City, SD - Midland Atlantic Development announces the grand opening of Phase I of Rushmore Crossing, a $100 million retail development in Rapid City.

The cold temperatures and struggling economy did not deter customers from lining up to be the first to experience the newest shopping center in Rapid City. A group of over 400 excited shoppers braved frigid cold temperatures while waiting for the doors to open on February 14th at the 50,000 square foot Scheel's All Sports, the last of the Phase I retailers to open at Rushmore Crossing.

For many of the Phase I retailers including TJ Maxx, Gordman's, Michael's, Petco, Shoe Carnival, Dress Barn and David's Bridal, the Rushmore Development represents their first foray into Rapid City and they have been thrilled with the initial response from the public. All have indicated that they experienced strong opening day sales.

Target and Scheel's All Sports, anchors for this initial phase of the development relocated their existing Rapid City operations to Rushmore Crossing in an effort to expand their footprint and surround themselves with dynamic co-tenants. Target's store is over 30,000-square-feet larger than their previous location and Scheel's All Sports increased their size by over 13,000 square feet. Both had successful openings and are continuing to see high traffic and consistent sales.

Construction on Phase II is slated to begin in spring 2009 and includes a Sam's Wholesale Club and new multi-tenant building. "Midland Atlantic is talking with both national and local retailers for the second phase of the development and our commitment to attract tenants that are new to the area or who want to expand in this market remains high," said Brandon Boyster, Property Manager.

Rushmore Crossing, located at Interstate-90 & N. Lacrosse Street, is situated on a 126-acre site and will feature a shopping center, hotel and restaurants when completed. Designed by RSP Architects (Minneapolis, MN), each segment of the development will be unique, but will feature common architectural details that tie the development together.

"We are optimistic that the growth in this market will continue and we are poised to make Rushmore Crossing a shopping destination for the residents of Rapid City and surrounding areas," said John Silverman, Managing Principal for Midland Atlantic.

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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.

Midland Atlantic Announces Acquisition of Pinecrest Pointe

2009-03-09T17:00:00.001-05:00

Midland Atlantic continues growth through acquisitions

Raleigh, NC - Midland Atlantic Development has recently acquired Pinecrest Pointe, an 89,224 square foot retail center in Raleigh, NC.

Purchased from the Kerr Family Limited Partnership, the center, built in 1988, is situated on 11 acres on Leesville Road, south of Interstate 540, in northwest Raleigh. Midland Atlantic is planning extensive capital renovations to the center including replacement of the roof, upgraded lighting, facade improvements, enhanced landscaping, and parking lot upgrades.

The development, anchored by Food Lion, is currently 90% leased. Other anchor tenants include Fitness 19 and Carolina Dance. The center is well positioned in a dense, established and proven location. Pinecrest Pointe is surrounded by residential subdivisions and is in close proximity to a substantive area high school and growing trade area. Midland Atlantic is currently talking with a number of local and national retailers to fill the vacancies.

The property marks the sixth purchase for Midland Atlantic's Acquisitions division. "The patience and willingness of the Kerr Family to work with us to move the deal forward, was invaluable in finalizing this acquisition," said Dave Wik, Director of Acquisitions for Midland Atlantic. "Despite the challenging economy, Midland Atlantic, through careful planning and due diligence, remains committed to purchasing, well-located, value-added retail centers." The transaction was financed by Tri-State Capital Bank and brokered by Andrew Margulies of Marcus & Millichap.

Midland Atlantic's Acquisitions Division 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. As with all of its acquisitions, Midland Atlantic will handle the leasing, construction, and property management of the asset. "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.

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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.

Midland Atlantic Continues Construction on New Haven Commons

2008-10-21T10:25:00.009-05:00

Staples to anchor new center

Harrison, OH - Construction continues for Midland Atlantic on its newest development, New Haven Commons, in Harrison, Ohio. Located on Biggs Boulevard off of New Haven Road, the center is easily accessible from Interstate-74.

The 20,000-square-foot center will be anchored by a 14,600-square-foot Staples office supply store. Leasing is underway for adjacent retail space ranging from 1,200-1,400-square-feet.

New Haven Commons is the first project in the Harrison area for Midland Atlantic. High profile retail stores and restaurants including Biggs, Home Depot and Cracker Barrel surround the development, providing high visibility for the site. "The continued growth in the residential sector in this area, coupled with strength of the surrounding retailers make this an ideal location," said John Silverman, Managing Partner for Midland Atlantic. The development is a testament to Midland Atlantic's foresight into expanding markets. Through careful selection of locations and a keen eye for growth potential, Midland Atlantic continues to find opportunities in a sluggish market.

Cole Russell Architects designed the center and Oswald Construction is the general contractor. The project is expected to open in January 2009.

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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.

Midland Atlantic Announces New Managers

2008-10-13T10:32:00.005-05:00

Midland continues to grow in a challenging market

Cincinnati, OH - Midland Atlantic, one of the regions largest commercial real estate development companies, today announced the hiring of three new mangers.

David Woodke has joined the firm as its Cincinnati-based Director of Construction. He will be responsible for overseeing all construction-related activities for the Company including estimating, contracting and project management. Dave is a graduate of Purdue University with a Bachelor’s Degree in Civil Engineering. He brings over 15 years of experience in engineering, construction and development to Midland Atlantic.

Bradley Rice has joined Midland Atlantic as Development Manager. He will be based in the Raleigh-Durham, NC office. Formerly a Partner with Starmount Company, Bradley was responsible for leasing and management of the office segment of the award-winning Renaissance Center, a mixed-use development located in Durham, NC. The project was developed by Midland Atlantic. He will be responsible for development opportunities in the mid-Atlantic and southeast regions. Bradley earned an economics degree from the University of North Carolina. He brings over fifteen years of retail development experience and leasing management to the company.

In Rapid City, SD, Brandon Boyster has been hired as the Property Manager for Midland Atlantic’s upper Midwest projects including Rushmore Crossing, a 900,000-square-foot development which opened its initial phase in October, 2008 and East Viking Plaza, a 300,000-square-foot project in Cedar Fall, IA, opening in July 2009. Both projects were developed by Midland Atlantic. Brandon comes to the company from Macerich in Prescott, AZ, where he was a Senior Property Manager, overseeing day-to-day operations of some of their larger projects and developments in that area. Brandon is a graduate of the University of Colorado with a BS degree in business. He is a certified Shopping Center Manager (CSM) with over seven years of experience. Brandon has been very active in the Prescott community and he plans to bring that same energy to Rapid City.

Through thoughtful planning and a clear vision for the future, Midland Atlantic has continued to grow in spite of a slowing market. “As we continue to expand, we are excited to have these individuals as part of the Midland Atlantic team. Their management experience and market knowledge will be a strong asset to our firm,” said John Silverman, Managing Partner.

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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.

New Tenants, Upgrades, Grand Re-Opening and Community Day Celebration at Putnam Plaza

2008-09-24T12:58:00.002-05:00

Greencastle, IN - In March of 2008, Midland Atlantic acquired Putnam Plaza, a 93,872-square-foot retail center in Greencastle, Indiana. The center, formerly occupied by Wal-Mart, was over 58% vacant and in need of many updates when purchased.

As of September, Midland Atlantic has completed new leases totaling over 35,000 square feet and the project is now over 90% leased. Many improvements have been completed, including parking lot resurfacing, facade upgrades and the addition of many new national retailers.

"I am so pleased with the success Midland Atlantic has had in getting national retailers to join the established businesses in the center, offering Greencastle residents the opportunity to shop and do business locally. The renovation and improvement of this property is a positive for the Greencastle community, in terms of economics and appearance" said Shannon Norman, City Planner for the City of Greencastle.

New tenants to Putnam Plaza include, Peebles Department Store, a locally owned Sears Authorized Retail Dealer, Shoe Sensation (opening soon), D's Cleaners, and an expansion of Teacher’s Credit Union. In addition to these great retailers, an outlot has been sold to Sonic. The other tenants of Putnam Plaza, who are enjoying this resurgence in the shopping center, include Tractor Supply Company, Benny's Floorcoverings, Members Heritage Credit Union, T&T Nails, Mikey’s Tobacco Shop and Great China Buffet.

A grand re-opening and community day event is scheduled for Saturday, September 27th from 10:00 a.m. to 2:00 p.m. The event will include free food, entertainment, specials and giveaways by the many different retailers. The Greencastle High School Cheerleaders will also be on site hosting a bake sale and will have school spirit bracelets available for purchase. The bracelets were provided by Midland Atlantic for the Cheerleaders to assist with their fundraising efforts.

"It has been great working on the improvements to Putnam Plaza. This center had a lot of possibilities, it just needed someone to bring it to life" said Kelly Boyle, principal for Midland Atlantic. "Greencastle is a great community and we have thoroughly enjoyed working on the revitalization of this center."

"The response of retailers has been phenomenal" said Pat Boyle, Leasing Broker for Putnam Plaza, "I have thoroughly enjoyed finding the right tenants to serve the Greencastle community and I am eager to complete the leasing of this center to bring more needed services to the residents of Greencastle. Currently we are in negotiations with other tenants, both national and local, which would bring the center to 100% occupancy by the end of the year."

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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.

Midland Atlantic Completes 13th Starbucks

2008-09-04T13:02:00.001-05:00

New Starbucks to Open in Lafayette, IN
1700 Sagamore Parkway South, Lafayette, IN

Lafayette, IN - Midland Atlantic recently completed its 13th Starbucks build-to-suit development.

The 1,650 square foot freestanding Starbucks is located at 1700 Sagamore Parkway South (intersection of US 52 & Indiana State Road 38), Lafayette, IN and features a drive-thru.

"We are excited to provide a quality building for Starbucks at this highly visible intersection in order for them to better serve the customers of Lafayette" said Aaron Boyle, principal of Midland Atlantic.

Grand opening of the store is expected to be in October.

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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.

Midland Atlantic Celebrates 10th Anniversary

2008-09-01T09:31:00.002-05:00

Source: Newsline / January 2009 / Shopping Center Business

Midland Atlantic, developed by real estate veterans John Silverman, Jeff Vittert and Aaron Boyle in 1998, celebrated its 10th anniversary in December 2008. Once three offices in Cincinnati, Raleigh, N.C., and Indianapolis geared towards developing, owning and operating retail shopping centers and build-to-suits, the company has evolved into a full-service real estate firm, specializing in the development, acquisition, leasing, management, and brokerage of retail properties. Since the company's inception in 1998, Midland Atlantic has developed more than 4 million square feet of retail properties, with more than 1 million square feet of developments under construction and 1.5 million square feet in planning phases. The Midland brokerage division has completed transactions valued at more than $400 million, representing some of the largest names in the industry such as Kroger, Home Depot, Kohl's and CVS. Midland Atlantic's acquisition division was formed in 2006, and has acquired 6 shopping centers totaling over 800,000 square feet with an estimated value of $54 million. With 10 years under its belt, Midland Atlantic continues to serve its clients, striving to remain at the forefront of the industry.

Store Builder stays in game by being nimble

2008-05-31T13:38:00.002-05:00

MIDLAND ATLANTIC HAS MAJOR RETAILERS AMONG CLIENTS

Source: Cincinnati Enquirer, Business Section, Saturday, May 31, 2008

Quick, dedicated decisions. That's what it takes to stay ahead in the competitive world of retail development, says John Silverman, managing principal and founder of Kenwood-based Midland Atlantic.

A developer and manager of more than 4 million square feet of shopping malls and retail strips, Midland Atlantic's portfolio includes a lucrative mix of retail-based projects that span 10 states.
"We've done it all," said Silverman. "We've developed a regional mall, build-to-suits for Starbucks, and everything that you can imagine in the middle."

Locally, the firm's footprint has been planted in some of the most desirable retail markets in Greater Cincinnati and Northern Kentucky.

Its recent work includes popular shopping destinations such as Voice of America Centre in West Chester and the recently opened Kenwood Place, across from Kenwood Towne Centre.

Just 10 years ago, the firm was a new name to the local development scene, with some fortunate ties to Greater Cincinnati. As a partner with St. Louis-based Midland Group - once the largest developer of Kroger-anchored shopping centers in the country - Silverman came to Cincinnati in 1997.

Midland Group had just been acquired by Jacksonville-based Regency Centers for $230 million. The sale included a pipeline of 21 Kroger shopping centers, mostly in the region.

"I had a six-month obligation to transition all of our Midland Kroger-based projects to Regency," Silverman said.

After the job was finished, Silverman decided to stay in Cincinnati and go into business for himself. He launched Midland Atlantic in 1998.

"Our primary focus at the time was to expand on our relationship with Kroger and begin to diversify by working with some other national retailers that we already had relationships with," he said.

Today the firm boasts a client-base -in addition to Kroger - that includes Target, JC Penney and TJ Maxx.

The firm, which has 40 employees in three states, continues to expand its reach, in spite of a tough economy.

"We go where our anchor tenants ask us to go," Silverman said. "We've developed projects from South Dakota to North Carolina and from Michigan to Mississippi."

LIQUID CAPITAL
By letting its tenants direct its investments, Midland Atlantic has cranked out roughly $150 million in new development activity each year, Silverman said. "We've been growing at a pretty good clip, and I don't see a reason for that to change."

In recent years, the company has sold several multi-million dollar developments, a move that has given it a competitive edge over other developers battling the industry's economic woes.
Its most recent sale came in February when the firm raked in $90 million after unloading a 70 acre retail development in Durham, N.C.

"We've been very fortunate that we sold a fair amount of real estate during a very good time to be selling," said Ryan Kyte, the firm's COO and CFO.

"It's provided us the liquidity we need given the credit crunch and given us a clear advantage as we go after larger transactions," he said. "Even if we aren't doing an all-cash transaction, our lenders are very satisfied with our contribution."

Kyte declined to say just how much cash the company is sitting on today. but the company is advertising that it's seeking to buy up existing retail developments in the Midwest and Southeast that have a minimum price of $3 million. The program requirements, as posted on the company's Web site, call for the deals to be "all-cash" transactions that close within 45 days.

The program is part of Midland's acquisitions division, which Silverman expects to be a $40 million-a-year venture for the company.

While the company may move quickly on its acquisitions, it will spend time and money getting new developments off the ground, Silverman said.

For three years, the firm has been working to break ground on a Union retail development anchored by Target.

"It's been a very difficult zoning project," Silverman said. "I bet we've spent $300,000 there so far on presentations, preparing the site and on option money for the land owner - all to show Boone County and the city of Union how great of a project this is going to be."

Earlier this month, the Boone County Planning Commission voted to reject the firm's plans for the project, despite an earlier vote of support from a commission sub-committee.
Silverman said he plans to approach the city of Union in hopes of reversing the decision.

LOCAL PROJECTS
With a development footprint that spans 4 million square feet in 10 states, 10 year old Midland Atlantic is rising quickly as a small firm with a big reach in the world of retail-based real estate.
Among its projects are:

Voice of America Centre, a 450,000 square foot retail center in West Chester Township, which includes TJ Maxx, Office Depot, Petsmart, Michael's, Linen N' Things and Pier 1 Imports.
Kenwood Place, a 78,000 square foot, upscale strip across from Kenwood Towne Centre. Tenants include Henredon Furniture, Down Lite, M. Hopple & Co., Deck the Walls, Calico Corners, Mattress Firm, Diamonds Rock, Drexel Heritage Furniture, T-Mobile and Dewey's Pizza.
Sycamore Crossing, a 60,000 square foot retail center in Kenwood that the firm redeveloped in 2006. Tenants include Trader Joe's and David's Bridal.
Tylersville Farm, an 80,000 square foot development under construction in West Chester that will boast LA Fitness as its anchor.
The Galleria, a proposed retail development in Union that would include 200,000 square feet of retail, with a Target store as its anchor. Midland hopes to overturn a Boone County Planning Commission vote made earlier this month to reject the project.

Midland Atlantic Announces Acquisition of Putnam Plaza Plans to update center underway

2008-04-01T10:47:00.003-05:00

Midland Atlantic Announces Acquisition of Putnam Plaza Plans to update center underway

Greencastle, IN - Midland Atlantic Development has recently acquired Putnam Plaza, a 93,872-square-foot retail center in Greencastle, Indiana. The center, formerly occupied by Wal-Mart, is located at 1333 Indianapolis Road (State Route 240), one of the main thoroughfares in Greencastle. Built in 1986, Putnam Plaza encompasses 16.42 acres and is a prominent retail center in the trade area. Midland Atlantic is planning extensive capital renovations to the center including exterior updates, parking lot repairs, upgraded lighting, and customized landscaping, among other improvements.

While currently anchored by Tractor Supply with Aldi Foods as a shadow anchor, Midland Atlantic is close to signing leases with two national and several local retailers, which will bring the center to just over 90% leased. "With its central location, proximity to DePauw University, and current tenant mix, we are attracting a diverse mix of retailers to complement the current businesses," said Aaron Boyle, a principal of Midland Atlantic.

This is the latest 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. As with all of its acquisitions, Midland Atlantic will handle the leasing, construction, and property management of the asset. "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 Dave Wik, Director of Acquisitions for Midland Atlantic.

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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.

Kenwood Place Announces New Tenants

2008-03-12T16:25:00.001-05:00

Retail center is 100 percent leased

Cincinnati, OH - Midland Atlantic announces that with the addition of two new tenants, its newest project in Cincinnati known as Kenwood Place has been fully leased. Recently, TD Ameritrade and The Salons @ Kenwood Place have joined the upscale retail development located in Kenwood (Sycamore Township). Both tenants are expected to open in Spring 2008.

"The Kenwood area has seen tremendous retail growth over the past few years. We are excited to be a part of this trend with the development of this unique project," said John Silverman, Managing Principal, Midland Atlantic. "TD Ameritrade and The Salons @ Kenwood Place are welcome additions to the center."

Kenwood Place, a 78,000-square-foot upscale center, is located on Kenwood Road, across from Kenwood Towne Center. Tenants include Henredon Furniture, Down Lite, M. Hopple & Co., Deck the Walls, Calico Corners, Mattress Firm, Diamonds Rock, Drexel Heritage Furniture, T-Mobile, and Dewey's Pizza.

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.

Midland Atlantic Wins Award for Renaissance Center

2008-03-12T16:08:00.002-05:00

Selected as Top Mixed-Use Development

Durham, NC - The Cincinnati based office of Midland Atlantic has received the Triangle Business Journal's highest award for the Top Mixed-Used Development in the region for its Renaissance Center project.

Renaissance Center is a 70-acre mixed-used development featuring upscale retail, restaurants, apartments, and Class A office space. It is located across the street from the Nordstrom anchored Streets at Southpoint Mall. "The project exceeded our expectations," said John Silverman, Managing Principal of Midland Atlantic. "By expanding the project through the acquisition of additional land, we were able to develop the residential and hotel components, creating a true community."

Anchored by REI Sports and Best Buy, the retail section of Renaissance Center features a vibrant mix of tenants including Old Navy, Pier One, Babies R' Us, Linens N' Things, World Market, Jared Jewelers, Ulta Cosmetics, PF Chang's, Chili's and Ted's Montana Grill. The Class A office area adds 56,000 square feet of space, with a Hilton Garden Inn hotel and 120 apartments anchoring the residential component. "Renaissance Center evolved into a premier shopping destination," said Jeff Vittert, Midland Principal and project manager for the center. "Its complement of shops, restaurants, residential properties, and office facilities is uniquely blended with pedestrian-friendly areas and beautiful, park-like landscaping. It gives people a very satisfying sense that they are experiencing the best of all worlds."

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.

Projects bring stores to retail-starved areas

2008-02-13T11:09:00.009-05:00

SOME OF THE BEST DEVELOPMENT IN THE U.S. IS occurring in the least obvious places.

Examples are Rushmore Crossing in Rapid City, S.D., and East Viking Plaza, in Cedar Falls, Iowa, says the projects' developer, Cincinnati-based Midland Atlantic Properties. Both fill the needs of under served markets for better apparel.

"Flying back from my first trip to Rapid City, I sat next to a woman who was flying all the way to Minneapolis to shop," said John Silverman, Midland Atlantic's managing principal. "At Rushmore Crossing, she will have the quality she's been looking for."

The $110 million project will be located 30 minutes from Mount Rushmore on 120 acres at the intersection of Interstate 90 and LaCrosse Street. The trade area has a population of more than 241,000 with an average household income of nearly $50,000. In addition, more than 4 million tourists visit area attractions, which include The Black Hills, the Badlands, Deadwood and Sturgis.

"They get a lot of people, and those people spend a lot of money," Silverman said.

A traditional retail anchor and a national brokerage firm sparked the developer's interest in the market.

"Target and Katz Associates [New York City] were both very upbeat about Rapid City," Silverman said. "There is no other major shopping within 200 miles."

The power center–lifestyle center hybrid will feature a combination of big-box users and specialty stores. About 600,000 square feet of the 900,000-square-foot project will be dedicated to power tenants. Tenants include Target, T.J. Maxx, Linens 'N Things, Scheels Sporting Goods, Petco, Michaels and Gordmans. The lifestyle center, anchored by Dillard's and situated at one end of the power center, will include Barnes & Noble, Old Navy and specialty stores. Target sits at the midpoint of the power center, and the project's amenities will become more upscale as one approaches a lifestyle component.

Construction began in February 2007. Not surprisingly in a mountainous area, the project has required some major construction work, moving 1.4 million cubic yards of dirt. The power center will open in October, with the lifestyle center opening in March 2009.

Over in Cedar Falls, the 290,000-square-foot East Viking Plaza also will be anchored by Target, its second store in the market. Ground will be broken in March for a July 2009 opening. The $40 million center will contain pioneering retail in the less developed side of the Cedar Falls–Waterloo market. The community center will be dominated by soft goods.

"Traditionally, retail has been located in Waterloo," Silverman said. "But the residential growth, especially the student population, is in Cedar Falls. Cedar Falls has been longing for a Target."

Despite their differences, both projects are ideal for Midland Atlantic, which Silverman and partners Aaron Boyle and Jeff Vittert founded in 1998 after the sale of Midland Group to Regency Centers. The company develops $120 million to $150 million in projects annually.

"We're unique," Silverman said. "We have the capitalization of a much larger group, but with the entrepreneurship of a much smaller group." That means quick reaction times and flexibility with landowners, particularly when anchors need help in a market, he added.

"We are at our best when an anchor is having an issue with a community or a difficult landowner," Silverman said. "We will do everything to creatively resolve the problem. We're nimble and react quickly, and that's why we're developing from South Dakota to North Carolina."

New Projects/January 2008 SCT 87

Midland Atlantic Announces Sale of Renaissance Center

2008-02-13T10:07:00.002-05:00

Award Winning Center sold to Chattanooga, TN-based REIT

Durham, NC -- Cincinnati based Midland Atlantic announces the sale of Renaissance Center to CBL & Associates in partnership with Teachers Retirement System of the State of Illinois. The property sold for $90,000,000.

Midland Atlantic developed the project from land acquisition through design and construction. Development began in 2004 and was completed last year. Midland Atlantic was in partnership with Starmount Company which assisted in leasing and managed the property.

Renaissance Center recently won the Triangle Business Journal's award for Best Mixed-Use Development in the region.

The property is a 70-acre mixed-used development featuring upscale retail, restaurants, apartments, and Class A office space. It is located across the street from the Nordstrom anchored Streets at Southpoint Mall. "Our development of the Southpoint area has been a terrific experience; the Renaissance project has a great quality to it that makes it truly timeless," said John Silverman, Managing Principal of Midland Atlantic.

Anchored by REI Sports and Best Buy, Renaissance Center is 93% occupied. The retail section of the project also includes Old Navy, Pier One, Babies R' Us, Linens N' Things, World Market, PF Chang's, Chili's and Ted's Montana Grill. The Class A office area adds 56,000 square feet of space, with a Hilton Garden Inn hotel and 120 apartments anchoring the residential component.

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.

Midland Atlantic Announces Acquisition of St. Mary's Square

2008-02-07T10:21:00.000-05:00

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.

Midland Atlantic Takes On New Property Manager

2007-09-05T13:36:00.000-05:00

Experienced professional joins local real estate developer's management team

CINCINNATI - On Aug. 6, developer Midland Atlantic hired Gail Eisenecker as an addition to its property management division.

Eisenecker will oversee management of numerous properties for Midland in the Midwest and Southeast. Responsibilities will include facilities management and tenant relations.

Eisenecker left her position as property manager for Kimco Realty in Dayton, Ohio, to join Midland's team. She worked there for three years, fulfilling similar responsibilities.

A Chicago native, Eisenecker received a bachelor's degree in business from the University of California in Sacramento. Through the years she has received certifications such as Certified Property Manager (CPM) from the Institute of Real Estate Management, Certified Shopping Center Manager (CSM) from the International Council of Shopping Centers and Registered Property Administrator (RPA) from the Building Owners and Managers Association.

Midland Atlantic Purchases Valleydale Marketplace Shopping Center

2007-08-06T09:03:00.000-05:00

Winn-Dixie-anchored center has opportunity to quickly create value for expanding area

BIRMINGHAM, Ala. - Real estate developer Midland Atlantic has acquired Valleydale Marketplace, a 64,000 square-foot retail center located at 2653 Valleydale Road.

Purchased from Valleydale Associates Ltd. on July 26, the center is anchored by Winn-Dixie and is currently 85 percent occupied. Midland Atlantic is already working with a national tenant to fill the majority of the vacancy.

"We were initially attracted to the center due to its great visibility and access," said Dave Wik, director of acquisitions for Midland Atlantic. "The property is located at a strong retail intersection in the rapidly growing Hoover area of south Birmingham."

The property marks the third purchase 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. Midland-s in-house property management and leasing divisions will handle the ongoing operations of the center.

Midland Atlantic Purchases Maysville Marketsquare Shopping Center

2007-07-24T08:46:00.000-05:00

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."

Construction of $82 Million Tryon Village is Underway

2007-06-26T08:04:00.000-05:00

80-acre site will be home to retail, office, apartments and town homes

CARY, N.C. - Developer Midland Atlantic has announced that construction of Tryon Village is underway. The development is located at the intersection of Walnut Street and Tryon Road in the Crossroads area of Cary.

Tryon Village is an 80-acre mixed-use development that will be home to 150,000 square feet of retail space, 400 apartment units, 135 town homes and 100,000 square feet of Class A office space.

Anchored by a 49,000-square-foot Harris Teeter grocery store, Phase I of the retail component will comprise approximately 115,000 square feet of retail space, including a 15,000-square-foot freestanding Walgreens store. Other tenants include Starbucks, Bruegger's, Jimmy John's and Yoho Asian Bistro. The first phase of the retail shops will be coming online in late summer, with Harris Teeter opening in early 2008.

The master plan calls for 40,000 square feet of additional retail and restaurant space in Phase II, which will be added in accordance with its demand.

"The Crossroads area of Cary is a prime location to bring this type of development - a mix of quality retail, homes and offices in an urban village setting," said John Silverman, managing partner of Midland Atlantic.

Designed by Greensboro-based Triad Design Group and Raleigh-based Cline Design, the project includes an urban streetscape design with stacked ledge stone, and more than 1.5 miles of pedestrian pathways. Mt. Airy-based John S. Clark Company is the general contractor.

Leasing is currently underway, with spaces available from 1,400 square feet. Please contact Chris Jenkins or Brian Ernenwein at (919) 941-9747 for additional leasing information.

Donatos to Open New Restaurant in Franklin Township

2007-06-26T08:03:00.000-05:00

Demand for more retail is met by new shopping center, restaurant

Indianapolis (Franklin Township), Ind. - A new, 9,000-square-foot, shopping center and a popular pizza chain are bringing much needed services to rapidly expanding Franklin Township.

Located at 5650 S. Franklin Road, Midland Atlantic has completed construction on Wildcat Shops - several new tenants are already open for business. Donatos Pizza will be celebrating its grand opening on June 26 and anticipates a high volume of traffic in this under-served, high residential growth area.

"With the explosive residential growth of Franklin Township, Wildcat Shops is a much needed neighborhood shopping development that will provide convenient retail and restaurant services to the residents in the community," said Jeff Hubley, who handles leasing for Wildcat Shops.

"We've heard from local residents that they needed more retail opportunities closer to home. With the opening of Donatos and other new retailers, Wildcat Shops is a welcome addition to nearby residents," Hubley added.

Currently, 2,800 square feet of retail space is available at Wildcat Shops.

Midland Atlantic Forms Acquisitions Group

2007-06-06T09:34:00.000-05:00

Division to focus on acquiring grocery-anchored shopping centers

CINCINNATI -- Midland Atlantic announced today the formation of its new Acquisition Division, according to the firm's director of acquisitions, Dave Wik. The new division will focus on purchasing grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the U.S.

"Our focus is acquiring underperforming properties, which we remodel then turn over to our brokerage division for lease-up," said Wik. "We have recently brought management of these properties in-house as well. By taking responsibility for all facets of a property's operation, we can ensure the highest quality service, ultimately providing a greater value to our investment."

Midland Atlantic Acquisitions has plans to build a $50 million shopping center portfolio in the first 12 months. The firm recently purchased the 166,000-square-foot Parkside Square shopping center in Ocean Springs, Miss., and has another 200,000 square feet in two centers under contract in Kentucky and Alabama.

"We have approximately 10 active letters of intent out right now," said Wik.

Wik was hired by Midland Atlantic in April 2006, after spending three years handling acquisitions for Phillips Edison's Cincinnati office, where he most recently served as director of Eastern Region Acquisitions. Prior to that, he spent five years in real estate finance and construction lending for PNC Real Estate Finance in Cincinnati.

"We are tremendously pleased to have Dave on our team," said John Silverman, managing principal of Midland Atlantic. "He has already brought great value to Midland Atlantic, laying the infrastructure for the formation of our new division," he said.

Read more in the Cincinnati Business Courier.

Kenwood's Newest Retail Offering Promises Upscale Design and Tenant Mix

2007-04-18T11:19:00.000-05:00

Kenwood Place retail center is 90 percent pre-leased

CINCINNATI — Developer Midland Atlantic has announced the addition of M. Hopple & Co. to its tenant roster for Kenwood Place, bringing leasing for the prime retail development to
90 percent. Kenwood Place is located across from Kenwood Towne Centre at 7727 Kenwood Road in Cincinnati.

The 75,000-square-foot development is currently under construction on the former sites of Frank's Nursery & Crafts and Sterling Cut Glass. The first phase, which utilized the framework of the former Sterling Cut Glass building, was expanded and will have a new storefront. Tenants in this building are expected to open in June. The second phase, an adjoining two-story building, has underground parking and will be completed in July for an August retail opening.

In addition to M. Hopple & Co., Kenwood Place tenants will include Drexel Heritage, Henredon, Dewey's Pizza, T-Mobile, Deck the Walls, Mattress Firm, Down Lite, Calico Corners and Lane Jewelers.

"We are pleased to bring another quality project to this prime retail area of Cincinnati," said John Silverman, managing principal of Midland Atlantic. "The fact that we are 90 percent pre-leased attests to the fact that retailers recognize this area as an ideal shopping destination."

Designed by Cincinnati-based FRCH Design Worldwide, the buildings will feature Exterior Insulation Finish Systems (EIFS), with stone and brick detailing, steel canopies and fabric awnings. "The development falls in line with the more upscale design that is evolving in the area, with a pedestrian-friendly streetscape, higher level finishes and the diversity of proportions for the buildings, which vary in height and scale," according to Y.E. Smith, director for FRCH.

Bayer Becker based in Mason, Ohio, is serving as the civil engineer, with Cincinnati United Contractors as the general contractor.

Retailers interested in the remaining 9,400-square-foot retail space should contact Chris Jenkins, director of leasing for Midland Atlantic, at (513) 891-2526.

Midland Atlantic Names New Construction Manager

2007-04-12T11:28:00.000-05:00

Cincinnati native tapped as local real estate developer's newest employee

CINCINNATI - Midland Atlantic has hired Jim Bruckner as an addition to its construction management staff, according to John Silverman, managing principal.

Bruckner will manage construction of the firm's projects in North Carolina and oversee construction and re-development for Midland's new shopping center acquisition group.

A Cincinnati native, Bruckner previously served four years as project manager for Professional Engineering Group LLC, and prior to that, spent three years in the same role for Neyer Properties.

Bruckner earned a degree in Construction Management from the University of Cincinnati in 1999. He has also earned Constructor Certification - Level I from the American Institute of Constructors.

"We are very pleased to have Jim on our team," said Silverman. "His seven years of construction management experience will be of great value to our firm, ensuring that our tenants will receive a quality-built space."

Bruckner currently lives in Anderson Township with his wife, Kerri. They are expecting their first child, a son, in May.