The buyer for the property at 2700 Ohio 725 in Miami Twp. is listed as Dayton Mall Miami Twp. LLC. The seller is listed as Dayton Mall II LLC.
Augusta, Georgia-based Hull Property Group announced Oct. 26 that it had purchased the mall, but did not disclose the terms of its sale.
“We purchased the mall, we’re going to operate it, and we’ve got a lot of work to do to stabilize it and get the most potential out of it,” John Mulherin, vice president of government relations for Hull Property Group, told this news outlet Monday.
HPG has a retail property portfolio of more than 20 million square feet, including 37 enclosed shopping malls across 17 states.
Mulherin previously said HPG plans to speak with all Dayton Mall stakeholders, including tenants, property owners on the mall parcel, neighboring businesses, area officials and community leadership.
While a sale of Dayton Mall in August 2012 was recorded without a price, an April 1985 sale is listed at nearly $32.2 million.
The mall’s most recent purchase price came in far below the $290 million mall real estate investment trust Macerich paid in June for a similar-sized retail property, the 1.3 million-square-foot Crabtree Valley Mall in Raleigh, North Carolina, according to its announcement of the purchase.
Construction on Dayton Mall launched in 1969. It opened in 1970.
It includes anchors JC Penney, Dick’s Sporting Goods and Macy’s, plus numerous brand-name retailers, such as American Eagle, Bath & Body Works, H&M and Victoria’s Secret. Restaurants include Bravo Italian Kitchen, Chick-Fil-A, Outback Steakhouse and P.F. Chang’s, among others.
Dayton Mall’s last owner, Westerville-based Washington Prime Group, filed for Chapter 11 bankruptcy in 2021 and Syracuse, New York-based Spinoso Real Estate Group became the property management and leasing firm assigned on behalf of the lender.
Spinoso Real Estate Group and Kiza Capital announced last week they had purchased the 1.1 million-square-foot mall at Mall at Fairfield Commons from Washington Prime Group with plans to pursue a strategy of reinvestment and growth.
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