Cincinnati Commercial Real Estate, part of the Newmark Grubb Knight Frank organization, has been appointed as the exclusive broker in the sale of Forest Fair Village, the 1.9-million-square-foot mall located near Cincinnati.
Consisting of about 90 acres, the site offers a unique opportunity for redevelopment, with possibilities including office, governmental, high-tech, light industrial, residential, medical, sports and recreation or educational concepts.
“This is a rare and exciting opportunity for qualified users to acquire a large, fully developed parcel at a major highway interchange in a strong Midwest metro market,” said managing director John Thompson, in a statement. “The redevelopment opportunities are countless and we expect we will have interest from a multitude of types of users. Furthermore, investors will benefit from the highly-competitive sales price and visible highway location, offering easy access to the entire Midwest.”
Located at 1047 Forest Fair Drive in Forest Park, Ohio, Forest Fair Village offers nearly 2,000 feet of highway frontage that carries daily traffic of more than 97,000 vehicles. Forest Fair Village features about 4,000 surface lot parking spaces and an additional 2,702 spaces in a three-level parking garage. Senior managing directors Joshua Young, Keith Yearout and Jim Vondan were hired by ownership to lead the brokerage team in the sale of the Forest Fair Mall property.
First developed in 1989 as a high-end mall featuring anchors such as Bonwit Teller, Sakowitz, B. Altman and Parisian, current anchor tenants of Forest Fair Village include Bass Pro Shops, Kohl’s and Babies “R” Us.
