Ohio company buys Valleydale Marketplace
Sunday, 12 August 2007
BIRMINGHAM, Aug 11 (Reuters): An Ohio real estate developer has purchased Valleydale Marketplace, a shopping center anchored by Winn-Dixie on Valleydale Road. Midland Atlantic acquired the 64,000-square-foot center late last month for an undisclosed amount. The center is 85 per cent occupied and was purchased from Valleydale Associates Ltd.
A press release said the company is working with a national company to fill the majority of its vacancy. Midland will manage and lease the property.
"We were initially attracted to the center due to its great visibility and access," said Dave Wik, the company's director of acquisitions. "The property is located at a strong retail intersection in the rapidly growing Hoover area of south Birmingham."
This is the third purchase for the company's new acquisitions division, which was formed to buy grocery-anchored shopping centers.
A press release said the company is working with a national company to fill the majority of its vacancy. Midland will manage and lease the property.
"We were initially attracted to the center due to its great visibility and access," said Dave Wik, the company's director of acquisitions. "The property is located at a strong retail intersection in the rapidly growing Hoover area of south Birmingham."
This is the third purchase for the company's new acquisitions division, which was formed to buy grocery-anchored shopping centers.