Albanese Cormier Holdings portfolio to exceed 6MM square feet with purchase of 9 new properties

BEAUMONT, TEXAS – Albanese Cormier Holdings is excited to announce the acquisition of 9 assets totaling 758,983 square feet. The purchase increases their property count in Indiana and expands ACH’s reach to include Michigan, Ohio, and West Virginia. The seller on the transaction was ShopOne with representatives from May Real Estate, Cooper Commercial Investment Group, Marcus and Millichap and HFF brokering the deal.

 

“With 92% average occupancy and predominantly national tenants, the centers provide both upside potential as well as stable cash flow,” stated Principal, Mike Albanese.

 

Pine Lake Shopping Center, located in La Porte, Indiana, is a 147,017-square-foot Kroger-anchored center with national tenants such as Aaron’s, Anytime Fitness, Boost Mobile, Check Into Cash, GNC, Great Clips, H&R Block, NAPA Auto Parts, Ollie’s Bargain Outlet, and Tractor Supply Co. The center has excellent visibility from US Highway 35 and traffic counts of 35,000 VPD.

 

Situated on the south side of US-40, the main east-west artery running through the heart of Brazil, IN, is Forest Park Plaza. In addition to great visibility and access, the 104,231-square-foot, Kroger-anchored center has national tenants such as Anytime Fitness, CATO, Cricket Wireless, Dollar General, Dollar Tree, and Papa John’s.

 

Phoenix Square, a 47,415-square-foot center, is located east of downtown South Haven, Michigan. The strength of the retail corridor is supported by the presence of Walmart SuperCenter, Menard’s, Tractor Supply Company, Taco Bell, Arby’s, AutoZone, Walgreens, Wendy’s, and four national hotels.

 

ACH’s Walmart shadow site count increases to 30 locations with the addition of the Amberwood Center. The 34,553-square-foot center is located in Ashland, Ohio and is positioned in a strong commercial corridor with excellent highway access from I-71, the major route between Cleveland and Columbus. The business corridor boasts 29,000 VPD along Main Street in front of the center and another 43,000 VPD along I-71, making Amberwood Center a destination point for all commuters.

 

Barberton Shopping Center is a 105,313-square-foot center located in Barberton, OH. Home to many national retailers, the asset boasts strong accessibility via the metro highway network and local arteries that provide linkage throughout the Akron and Cleveland areas. The plaza benefits from frontage on both 5th Street SE and Robinson Avenue with over 26,000 VPD.

 

DeVeaux Village Shopping Center is situated at the northeast corner of W. Sylvania Avenue and Douglas Road in West Toledo, OH. Access to I-475 is less than 1-mile south of the plaza and the University of Toledo is less than two miles in the same direction. W. Sylvania Avenue provides approximately 18,800 VPD while Douglas Road supplies an additional 21,700 VPD at the 72,050-square-foot shopping center.

 

Perrysburg Marketplace is positioned within one of the most active submarkets of Toledo, and is regarded as being the primary retail center servicing the suburbs of Perrysburg, Rossford, and many rural communities. Situated on Route-20 with direct access to major highways, the 101,859-square-foot plaza benefits from shared parking with Kroger MarketPlace and is surrounded by major retailers such as Walmart SuperCenter, Meijer, Lowe’s and Bass Pro Shops.

 

Situated at the southeast corner of S. Reynolds Rd. and Heatherdowns Blvd. in South Toledo, OH is Reynolds Plaza. The center is adjacent to the Ohio Turnpike and benefits from a four-way interchange on S. Reynolds Rd. Anchored by JOANN and Ollie’s Bargain Outlet, the center is 110,479 square feet and has a strong national tenant mix consisting of Harbor Freight, Leslie’s, and O’Reilly Auto Parts. Retailers in the immediate area include Kroger, Meijer, At Home, LA Fitness, Rite Aid, and more than six hotels.

 

Huntington Mall is a 36,066-square-foot center located on the west side of E. Mall Road at the gateway to Huntington’s premier retail collection. With two tenants, Michaels and Mattress Warehouse, the center is positioned on a four-way interchange on I-64 immediately south of the property and benefits from approximately 21,000 VPD.

 

Albanese Cormier Holdings continues to grow their portfolio through a strong acquisitions and dispositions program developed and implemented through their Asset Management team. For more information or to present potential investment opportunities to ACH, please contact the Acquisitions Manager, Matthew Cook, CFP via email at mcook@ach-us.com.