COLUMBUS, Ohio (WCMH) — Seven central Ohio strip malls are now under the ownership of a Florida real estate company after being sold for $21 million, including the shopping center home to the shuttered Block’s Hot Bagels.
The West Palm Beach-based American Commercial Realty acquired five strip malls in east Columbus and two in Northland last month, Franklin County auditor’s office records show. The centers span a combined 215,000 square feet and were all previously owned by Fillmore Capital Partners, a Powell real estate investment firm. The acquisitions include the following centers:
- Beechcroft Center at 1931 E. Dublin Granville Road, for $3.95 million.
- East Main Street Center at 5156 E. Main St., for $3.34 million.
- James Livingston Center at 1214 S. James Road, for $2.37 million.
- Main Hamilton Center at 4513 E. Main St., for $2 million.
- McNaughten Center at 6085 McNaughten Center, for $3.67 million.
- Village Center at 1995 E. Dublin Granville Road, for $2.3 million.
- Wyandotte Center at 5091 E. Main St., for $3.65 million.
“We are thrilled to have entered the Columbus market with seven such well-located properties,” said Rick Baer, president of American Commercial. “These centers all serve established residential markets with strong roots in the community.”
George Kleier, American Commercial’s director of leasing and acquisition, said the company is “looking forward to identifying new concepts both from local operators and national tenants that will further re-energize this established area.” One of those new tenants is Cincinnati’s Marx Bagels, which is taking over the McNaughten Center space that was home to Block’s Bagels before it closed in early March.
“There is a lot history in these properties and many of the tenants have demonstrated a long-term commitment to the market and to these properties,” Kleier said. “The centers are ideally positioned in the submarkets of Columbus to serve nearby residents and the larger community.”
Y.Y. Davis, owner of Marx, said the renovated McNaughten space will open later in April and that the Cincinnati company is “excited to continue the tradition of bringing the best quality of kosher bagels to the Columbus market.” Davis said a key part in Marx’s central Ohio expansion “was partnering with American Commercial.”
The acquisitions mark American Commercial’s first foray into the central Ohio market. The Florida company also oversees more than 2.5 million square feet of commercial space across Alabama, Florida, Georgia, Illinois, Kentucky, Louisiana, Missouri and Virginia.