Real Estate and Development News

Midland Atlantic Properties Acquires Two Grocer Anchored Shopping Centers

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Midland Atlantic Properties Acquires Two Grocer Anchored Shopping Centers

Cincinnati, Ohio - Midland Atlantic Properties is pleased to announce the acquisitions of St. Cloud East shopping center, a Cash Wise (a Coborn’s owned grocer) anchored shopping center, located in St. Cloud, Minnesota, and Shady Springs Plaza, a Kroger anchored shopping center, in Beckley, West Virginia.

St. Cloud East shopping center is a 70,900 SF project. The property has two tenants: Cash Wise grocery store and Westside Liquor store. Cash Wise is owned and operated by Coborn's, an employee-owned, multi-state grocer that is based in St. Cloud.  The shopping center is located near downtown St. Cloud at the intersection of two highways and is surrounded by housing, retail, industrial businesses and St. Cloud State University.  The city of St. Cloud is located approximately seventy (70) miles northwest of downtown Minneapolis and is on the Mississippi River. 

Shady Springs Plaza is a 67,577 SF project.  Kroger is the dominant grocer in the region and is planning a store remodel. The shopping center line-up also includes CVS and ‘small shop’ spaces leased to local retailers. There is also a small office building that includes the United States Post Office.  The shopping center will benefit from immediate improvement projects that will enhance its appearance.  The shopping center is surrounded by Wendy’s, McDonalds, Chase Bank, Sheetz and Advanced Auto Parts. Beckley is a regional hub located southeast of Charleston and Shady Springs Plaza is the only grocer-anchored shopping center in this submarket of Beckley.

Midland Atlantic Properties is actively seeking grocer 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 / cpalermo@midlandatlantic.com).

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