January 14th, 2013California Group Plans $20M Upgrade of Middletown Mall
Middletown, OH - A California-based development group acquired Towne Mall and the attached former Dillard’s department store site in Middletown with plans for a $20 million renovation.
George Ragheb, one of the members of Sa Mary Ohio LLC, said it will begin work on subdividing the Dillard’s site by the end of the year and expects to have tenants take occupancy by the second quarter of 2014.
His group is talking with numerous national retailers, and one “very large regional tenant,” for the revamped mall that’s on Ohio Route 122 just west of Interstate 75, Ragheb said. The company paid more than $2 million for the combined site in two transactions last fall and will invest about $20 million overall, he said.Continue Reading »