VIKING ACQUIRES THREE MIDWEST SHOPPING CENTERS FOR $26 MILLIONProperty Acquisition - May ,18 2015
Viking Partners Launched Fund III to Acquire over $300 Million of Real Estate Assets
Viking Partners Fund III, launched in January 2015 by Viking Partners, LLC, a private equity real estate investment firm focused on the acquisition, turnaround and disposition of value-add real estate and real estate related assets in the Midwest and Southeast United States, completed its capital-raise and has acquired the first three shopping centers for Fund III for an aggregate purchase price of $26 million.
Ballwin Plaza is a 200,915 square foot shopping center located in Ballwin, Missouri, a suburb of St. Louis. The shopping center is anchored by a Schnucks grocery store and other tenants include Once Upon a Child, Buffalo Wild Wings and Club Fitness. Ballwin Plaza provides upside potential through the leasing of approximately 50,000 square feet of vacant space.
Ridgefield Shopping Center is a 156,891 square foot shopping center located in Danville, Kentucky. The center is shadow anchored by a Kroger grocery store and anchored by Tractor Supply and Liquor Barn. Ridgefield is located in the heart of the Danville retail corridor and draws customers from a 25 mile trade area. Viking Partners is currently in negotiations with several national and regional tenants for the available vacant space in the shopping center.
Sheridan Village is a 316,406 square foot shopping center located in Peoria, Illinois. The shopping center is anchored by a HyVee grocery store and includes Bergner’s Department Store, a subsidiary of The Bon-Ton Stores, Inc. (NASDAQ: BONT). Sheridan Village provides upside potential through the leasing of approximately 40,000 square feet of vacant space.
“We see tremendous opportunity to enhance all three of these properties, working to lease vacant space, optimize and renew leases with existing tenants and to make capital improvements where needed”, said Steven Miller, Principal of Viking Partners. “These properties remain in- line with our investment objective to acquire well located properties with strong value-add potential that will deliver attractive returns to our investors”, he continued.
To present buying opportunities or inquire about retail opportunities with Viking Partners, contact Steven Miller email@example.com or Bret Caller firstname.lastname@example.org or (513) 793-9919.[ssba]