Bank acquires West Carrollton shopping properties for $4.4M

Several area shopping centers and commercial properties have changed hands in recent days for millions.

HSBC Bank USA paid a total of $4.41 million in three transactions for property associated with the Alex Tower Shopping Center and Business Park, from 2008 to 2081 S. Alex Road in West Carrollton.

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Wembly LLC sold 2008-2022 S. Alex, 2074-2082 S. Alex and a 1.03-acre parcel off South Alex to HSBC on Monday, according to Montgomery County property records. Each transaction was put at $1.47 million, records show.

The area is just north of Ohio 725.

In Miami Twp., S&G Investments sold a community shopping center at 5510 Springboro Pike to SP Proform LLC for $2 million on Friday, county records show.

In Trotwood, the former Target store at 2800 Shiloh Springs Road was sold Tuesday for $1.2 million by Dayton Hudson Corp. to SOA Shiloh Springs LLC, county records show.

Also recorded recently, Commodore Apartments was listed as the seller in nine Grafton Hill-area transactions for $1.425 million each. The properties cover 306 Grafton Ave., to 324 to 326 Grafton, to 320 Grafton, a Superior Avenue parcel and others, including 522 W. Grand Ave., all sold to Stay OHTower LLC on Friday.

Brad Millward, chief operating officer for Midwest Acquisitions and Management, said Wednesday his company recently refinanced all the properties with another lender. He said Midwest still owns the 12-story tower at 522 W. Grand Ave., known as the Commodore building, and is still heavily invested in redevelopment in that part of Dayton.

This news outlet reported last month that Midwest Acquisition & Management has a land contract for the Commodore building, which Doug Higa — Midwest’s chief exeutive — and another partner bought last year as part of a four-property portfolio. Higa and the partner parted ways, and he formed a new company, Midwest Acquisition, with Millward as COO and Dan Fish as chief financial officer.

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