BEAUMONT, TEXAS –As 2016 nears its end, ACH acquires 5 centers totaling 578,910 square feet. The new acquisitions include Louisa Plaza, Catawaba Village, Quincy Plaza, Kokomo Plaza and Lakeside Shopping Center, bringing the total portfolio to more than 4.5M square feet. These acquisitions expand the company’s portfolio to include properties in Iowa, Indiana and South Carolina and increase ACH’s national reach to 22 states.
Louisa Plaza is a 108,065-square-foot retail center located on Town Hill Road in Louisa, Kentucky that is anchored by Goody’s and Family Dollar. The development offers retailers excellent access and visibility close to the heart of the communities’ population base. The shopping center is currently 62% occupied, and there are value add opportunities that include a vacant 28,005-square-foot Jr. anchor box and the potential to develop two additional out-lots.
Located north west of Charlotte in the heart of Catawba County in Newton, North Carolina, Catawba Village is a 59,463-square-foot center anchored by Goodwill, who just recently renewed for five years. Catawba Village is positioned along one of the region’s main traffic corridors, US Highway 70 and just off of Interstate 40, and benefits from the exceptional transportation infrastructure. The subject property is easily accessible from the park and well positioned to capture the day-time traffic of the surrounding companies. Other major tenants include Subway and Boost Mobile.
Quincy Plaza, located in Ottumwa, Iowa, is a 137,389 square feet center where Hobby Lobby serves as the anchor and comprises 55,000 square feet of the total gross leasable area. The remainder of the center is made up of small shop, inline space and three out-lots and has a diverse national tenant mix that includes Rent-A-Center, H&R Block, Jimmy Johns and Famous Footwear with. Quincy Plaza is a major retail center located in the heart of a large, mostly rural trade area that covers a 30-mile radius in southeast Iowa, approximately 84 miles southeast of Des Moines.
Anchored by Ollie’s Bargain Outlet and Vendor City Antiques, Kokomo Plaza is an 89,414-square-foot center located in the heart of the retail corridor that contains nearly two million square feet of retail GLA that serves Kokomo, Indiana. Additionally, the center has maintained a high occupancy of small shop tenants despite not having an anchor tenant up until recent years. The center has exceptional visibility along S. Reed Road with no buildings impeding visibility and major tenants such as Dollar Tree, Boost Mobile, Aaron’s and Papa Johns.
Lakeside Shopping Center is a 184,579-square-foot shopping center comprised of Lakeside Center and Lakeside Square. Positioned on Pearman Dairy Road in Anderson, SC, which is a mid-point between Charlotte and Atlanta, the asset is anchored by Big Lots, Save-A-Lot, Citi Trends and Family Dollar. Three of the four national anchor tenants have been in-place for at least 17 years and have remaining terms through at least 2020.
ALBANESE CORMIER HOLDINGS
Albanese Cormier Holdings is a commercial real estate investment company currently holding more than 4.5 million square feet of 75 strategically placed assets throughout 22 states. For more information about our company or on any other property within the ACH portfolio, please visit www.ach-us.com or contact the main office at (409) 892-0200.