Midland Atlantic Properties Acquires Kroger Anchored Shopping Center
Cincinnati, Ohio - Midland Atlantic Properties is pleased to announce the acquisition of Thompson Square, a Kroger anchored shopping center, located in Tupelo, Mississippi.
Thompson Square is 69,448 square feet center anchored by Kroger. Kroger is the dominant grocer in the market and this is a high sales volume store. The center also includes a Kroger Fuel Center and many national and local tenants including Once Upon A Child, Enterprise Rent-A-Car, Republic Finance, Allstate and others.
The shopping center is located in Tupelo, a regional hub in Northern Mississippi. Thompson Square is very well located in the city’s prime retail node. Outparcels include Chick-fil-A, Pizza Hut, and Taco Bell and the center sits adjacent to Metro Ford Auto Sales, one of the premier dealerships in the area.
The Kroger store is scheduled for a store remodel in 2017 and Midland Atlantic Properties investment plan includes numerous physical upgrades to enhance Thompson Square for the tenants and customers.
Midland Atlantic Properties is actively seeking grocery anchored shopping center investment opportunities in small to large markets located in the Midwest, Southeast and Mid-Atlantic. Please contact Chris Palermo with opportunities (513.792.5000 / firstname.lastname@example.org).
More retail is in the works for the Anson development in Whitestown.
Midland Atlantic Development Co. LLC has filed plans for four retail buildings on a 6.4 acre property near the northeast corner of Whitestown Parkway and Perry Worth Road, along Interstate 65.
The project could cost $13 million to $15 million, according to managing principal Aaron Boyle.
The exact size of each building has not been determined, but the total project could add up to 30,000 square feet.
“We are in discussions with multiple restaurant operators and retailers, and since the site is right off of I-65, we expect restaurants to be the predominant use,” Boyle said in an email.
No tenants have been identified yet.
Click here to read the full story by the Indianapolis Business Journal.
Midland Atlantic Properties is excited to announce the acquisition of The Marketplace at Anson. The 38,373 square foot center, shadow anchored by Lowe's, Meijer and CVS Pharmacy, is an exemplary addition to our portfolio of retail centers.
The Marketplace at Anson is part of the master planned Anson community that spans over 1,700 acres. As a Live-Work-Play community, the Anson area boasts over 3,500 employees, is home to Amazon, Express Scripts and GNC headquarters. It is also recognized as the fastest growing community in the state.
- Total Shopping Center GLA: 38,373
- 96% Occupancy at Time of Purchase
- Seller: Duke Construction Limited Partnership
- Tenants Include: Buffalo Wild Wings, Dentist Office, Pizza Restaurant, Community Pet Healthcare, Hair Salon, Nail Salon, Arthur Murray, Dermatology Center, Great Clips, El Rodeo, Gandolfo's Deli and Flap Jacks
Click here for leasing information.
Patrick Boyle of Midland Atlantic Properties was the exclusive listing broker for Town Fair Center. Representing the owner, Bedford ABG, LLC (DBA Rural King), Patrick was responsible for the lease-up and sale of the shopping center. Click here for deal highlights
Midland Atlantic Properties is excited to assist Strategic Capital Partners in their partnership with Purpose Built Communities in developing The Shops at Avondale Meadows. This new development is anchored by Save-A-Lot grocery store and Goodwill and offers 1,200 to 12,600 square feet of additional retail space for lease and outlots available for sale, lease or built to suit.
Click here for additional information.
Cincinnati, Ohio - Midland Atlantic Properties is pleased to announce the acquisition of three dominant anchored shopping centers. All three property transactions closed within the first 2 months of 2016.
Midland Atlantic Properties acquired Troy Towne Center, a 144,000 square foot center anchored by Kohl’s, Petco and Dollar Tree. The center is located in Troy, Ohio, a strong regional retail hub located approximately 20 miles north of Dayton. The project is shadow anchored by a Walmart Supercenter and it is surrounded by numerous retail outparcels. Other tenants at Troy Towne Center include Shoe Carnival, Sleep Outfitters, Verizon and numerous national and regional small shop retailers. Midland Atlantic will be marketing the two small shop spaces that are currently vacant.
Acquired by Midland Atlantic Properties, Clayton Village is a 61,000 square foot Food Lion anchored shopping center located in Clayton, North Carolina (a suburb of Raleigh). In addition to Food Lion, the shopping center includes Family Dollar, Aaron’s Rents and several other small shop retailers. The anchor tenant, Food Lion, has a high sales volume and a long-term commitment to the project. The investment plan includes numerous physical upgrades to Clayton Village that will enhance the project for the tenants and the customers. The shopping center is at 100% occupancy.
The third property Midland Atlantic Properties acquired is McMinn Plaza. It is a 107,000 square foot shopping center anchored by Ingles Market and located in Athens, Tennessee (a regional market located on I-75 between Knoxville and Chattanooga). Ingles Market, with a long-term commitment to the project and strong sales history, recently constructed an onsite fuel center. The grocery store also contains the only Starbucks in Athens. The shopping center’s tenant lineup includes Badcock Furniture, Workout Anytime, and Fresenius Dialysis. There will be an immediate focus on leasing two small shop vacancies.
These three recent acquisitions are explicit examples of the targeted investments of Midland Atlantic and its Midland-Olympus Fund. Midland Atlantic is actively seeking ‘necessity-based’ anchored shopping center investment opportunities in small to large markets located in the Midwest, Southeast and Mid-Atlantic. Please contact Chris Palermo with opportunities (513.792.5000 / email@example.com).
Fishers, Indiana – Midland Atlantic Properties is pleased to announce that construction has completed at Deer Creek Shoppes and it is fully leased. The tenants include, Arby’s and Classic Cleaners, which are open for business, Which Which Superior Sandwiches, with a grand opening the week of January 18th, and The Sleep Shop, which plans on opening the first of February.
This 7,500 square foot retail center, developed by Midland Atlantic Properties in 2015, is located in one of Central Indiana’s most sought after trade areas. The site, adjacent to Hamilton Town Center and Saxony, offers excellent visibility and easy access from I-69, Olio Road and State Road 238 (Campus Parkway), in Fishers, IN.
Patrick Boyle and Jeff Hubley, Senior Retail Brokers at Midland Atlantic Properties, handled the leasing and Kelly Boyle, Principal of Midland Atlantic Properties managed the construction.
Fishers, Indiana – Midland Atlantic Properties is pleased to announce the ground lease of 1.6 Acres to Chick-fil-A. Midland Atlantic was represented in house by Jeff Hubley and Patrick Boyle. Chick-fil-A was represented by Allison Hawley of Niessink Commercial Real Estate. The new 4,876 square foot location at 14098 Bergen Blvd, Noblesville, IN held a grand opening Nov. 19th.
Chick-fil-A has steadily grown to become the largest quick-service chicken restaurant chain in the United States, based on domestic annual sales with over 1,900 locations in 42 states and Washington, D.C. In 2014, annual sales were nearly $6 billion. Chick-fil-A is still privately held and family owned. With 47 consecutive years of positive sales growth, Chick-fil-A has set itself apart by pioneering innovations and delicious products—including the ever-popular Chick-fil-A® Chicken Sandwich.
Muncie, Indiana – Built in March 2014, Muncie Marketplace was developed by Midland Atlantic Properties. Fully leased by national credit tenants, Dick’s Sporting Goods, Michaels, Five Below, McAlister’s Deli, Men’s Wearhouse, AT&T and Jersey Mike’s Subs, the development was completed with all tenants opening between Fall 2014 and Spring 2015, then sold to American Realty Capital Partners in June 2015.
The 77,871 square foot retail development offers a superior real estate position. Muncie Marketplace is situated on the primary traffic artery (McGalliard Road) at a signalized intersection (Barr Street) which serves as an entrance to the adjacent Muncie Mall (a Simon owned enclosed mall), Target and Muncie Plaza (a Simon owned power center).
Muncie, Indiana is a mid-tier market located about 50 miles northeast of Indianapolis. The city is the county seat of Delaware County with a population of approximately 70,000 (120,000 in trade area) and is home to Ball State University with over 22,000 students.