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News

WP Realty acquires Knox Village Square

WP Realty, a real estate investment, development, management and leasing company headquartered in Bryn Mawr, Pennsylvania, is pleased to announce the acquisition of Knox Village Square located in Mount Vernon, Ohio, on May 1, 2008.

Mount Vernon is the county seat of Knox County, and is a vibrant community with a renovated downtown area and unprecedented rate of economic development. It is home to Kenyon College and Rolls-Royce Energy Systems, Inc, and is situated 50 miles northeast of Columbus. The market is thriving with retailers such as Wal-Mart, Lowes, Kroger, Staples and CVS in the immediate area.

Knox Village Square is a 207,409 square foot retail shopping center strategically located on the southern side of Coshocton Avenue (Route 36). The center is anchored by Kmart in 94,841 square feet and JCPenney in 22,518 square feet. Other tenants include Peebles, Fashion Bug, GNC, Radio Shack and Payless ShoeSource. Knox Village Square was built in 1992, has been well-maintained and features covered walkways and prominent signage.

The property has a 35,650 square foot vacant space that was formerly occupied by Big Bear. Knox Village Square provided an excellent opportunity to acquire a well-located shopping center with considerable immediate upside through the lease-up of the vacant anchor and inline space.

The principals of WP Realty have extensive expertise in leasing and entrepreneurial management and specialize in turning underperforming centers around.