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August 24, 2012

9,000 Square Foot Retail and Office Investment Property Sold at 643 Massachusetts Avenue

Logansport, IN – Midland Atlantic Properties has recently acquired Eastgate Plaza, a 59,446 square foot retail center, including a freestanding Burger King, located at 3015 East Market Street in Logansport, IN.

National tenants currently comprise 100% of the leased space at Eastgate Plaza and include Dollar General, Rent-A-Center, EZ Pawn, Advance America, Jackson Hewitt and Little Caesars Pizza. Occupancy rate is currently at 60% with approximately 30,000 square feet of vacant space available in adjacent units. Midland Atlantic Properties is planning capital renovations to the center and will focus on leasing the existing vacant spaces to bring the center to 100% occupancy.

"We are working on signing several new leases with a diverse mix of retailers to complement the current businesses and the area" said Patrick Boyle, leasing broker at Midland Atlantic Properties.

Midland Atlantic Properties is focusing on the purchase of value-add and groceryanchored shopping centers. As with all of its acquisitions, Midland Atlantic will handle the leasing, construction, and property management of this asset.

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Midland Atlantic is a full-service real estate firm specializing in retail brokerage and the development, acquisition, leasing and management of retail properties. Covering the Midwest and Mid-Atlantic regions, Midland Atlantic is dedicated to finding creative and effective solutions to brokerage and development projects. Our combination of tremendous industry experience and true dedication to serving our clients places us at the forefront of our industry.