Baker Storey McDonald Properties acquires Kentucky, Ohio centers
Nashville, Tenn. -- X Team International announced that Nashville-based partner Baker Storey McDonald Properties has acquired two shopping centers located in Kentucky and Ohio.
BSM acquired Kroger Plaza, a 53,989-sq.-ft. Kroger shadow-anchored shopping center located in Winchester, Ky., a suburb of Lexington. BSM will manage and lease the retail center. Kroger Plaza is currently occupied by a number of tenants including Cato, The UPS Store, Papa John's, NovaCare and Hallmark. Prior to acquisition of the center, BSM executed a lease with Burke's Outlet to occupy a 20,000-sq.-ft. space in the center. Burke’s, a division of Bealls Department Stores of Florida, plans to open its store at the end of March 2012.
Upon Burke's occupancy, Kroger Plaza will be 90% leased.
BSM acquired a former National City Bank branch as well. Prior to acquisition, BSM developed plans for a new 6,200-sq.-ft. shopping center to replace the existing bank branch and signed leases with three tenants: Aspen Dental, JS Gold, and GNC.