Cincinnati Office News
Orvis Opens In Kenwood
Orvis – Orvis has opened its first Cincinnati location in Midland's Kenwood Place project. Kenwood Place is located directly across from the Kenwood Regional Mall – Cincinnati's #1 regional mall. Kenwood Place is also home to the Kenwood Theatre, Dewey's Pizza, Orange leaf Yogurt, and others.
Julie Krause Joins Property Mgt. Team
Midland Atlantic's Cincinnati office has added Julie Krause to its Property Management staff. Julie will be responsible for the management of +/- 1,000,000 sq. ft. of shopping center space including the Kroger-anchored Maysville Marketplace. Julie comes to us with more than 10 years of management experience – we are pleased to have her with our organization.
Scheels All Sports To Open In Cedar Falls
Scheels All Sports has started construction of a new 57,000 sq.ft. superstore at Midland's Viking Plaza shopping Center in Cedar Falls, Iowa. This will be Scheels 26th store – joining a project that already includes Target and several nationally known retailers. Scheels is expected to open in March, 2013.
Midland Forms Acquisition Entity
Midland Atlantic, in conjunction with Olympus Capital, has formed the Midland Olympus Value Add Fund (MOVAF). The fund raised equity for acquisition of grocery-anchored centers with a "value add" component. The Fund's first 2 purchases are the Kroger-anchored Brynnwood Square in Rockford, IL, and Blankenbaker Plaza in Louisville, KY, anchored by WalMart Neighborhood Market. The Fund expects to acquire 4 or 5 additional properties over the next few years.
Midland Buys 2 New Centers
Midland Atlantic announces the acquisition of 2 new shopping centers in its Midland Olympus Value Add Fund (MOVAF). During the first week of November, the Fund acquired the Northwoods Center in Dayton, OH; and the following week, it acquired the Hays Road Town Center in Tampa. Northwoods is anchored by Kroger, and Hays Town Center is anchored by Publix. These 2 centers add to the Fund's existing portfolio that includes another Kroger-anchored project and a WalMart Grocery – anchored center. The Midland Olympus Fund is actively pursuing additional acquisition opportunities.