Colliers International|Greater Cincinnati in February facilitated the $7.5 million sale of a multi-tenant power center in the Eastgate trade area of Cincinnati.
Colliers International sold Bigg’s Place Mall on behalf of its client to Union Township Clermont County CIC, Inc. of Ohio.
The 402,786-square-foot building sits on a 40.6-acre site, and is currently the home of Hobby Lobby, Regency Beauty, Original Mattress Factory, Danberry Cinemas and Rincon Mexican Restaurant. The mall was anchored by Biggs Hypermarkets until June of 2010, when that grocer closed.
At the time of sale, the property was 43 percent occupied. Union Township has since structured a long-term lease and purchase option with Fairfield, Ohio-based Jungle jim’s to lease the former Biggs Hypermarket space. Jungle Jim’s will complete a renovation of the former grocery space. It plans a grand-opening celebration for February of 2012.
Agents involved in the transaction were Steve Timmell, senior vice president with Colliers International, and Jeff Johnston and Chris Prosser, both also with Colliers.