VIKING PARTNERS ACQUIRES MILFORD CENTER FOR $ 3.45 MILLION
Property Acquisition - March ,11 2011Local Leasing & Management To Optimize Property Viability
Viking Partners, Fund I, has acquired the Milford Kroger Center at 824 Main St., Milford, Ohio, a 108,922 square foot shopping center with current tenants including Kroger, Dollar Tree, CATO, Sally Beauty, Great Clips, Aaron’s Rents and Quizno’s. The property sits on 12.48 acres and boasts an 88% occupancy rate. Viking acquired the shopping center from an Australian based real estate investment trust (REIT) for $3.45 million. Viking plans to implement a strategy of leveraging its local leasing and management expertise to secure new tenants and reduce expenses to increase the value of the property.
Viking is actively seeking value-add opportunities secured by commercial real estate in addition to its platform of investing in non-performing loans secured by commercial real estate in the Midwest and Southeast. Fund I has a preferred transaction range of $1 million to $25 million.