“Fairfield Commons is a dominant regional asset with strong fundamentals and significant growth potential, said Carmen Spinoso, chairman and CEO of Spinoso Real Estate Group. ”Our platform is uniquely positioned to drive leasing velocity, enhance merchandising and deliver measurable results at Fairfield Commons."
Purchase terms were not released.
Washington Prime Group announced in April it was laying off 139 employees and selling assets. The company filed for Chapter 11 bankruptcy protection in 2021, then exited bankruptcy later that year.
The Mall at Fairfield Commons is the second mall property in Ohio to be purchased by Spinoso Real Estate Group and Kize Capital, following the purchase of SouthPark Mall in Strongsville in 2021. The company owns 40 malls throughout the United States.
Fairfield Commons is the most-visited shopping destination in the Dayton area, according to Spinosa, with more than 5.3 million annual visits.
Current tenants include Dick’s House of Sport, which opened in April, JCPenney, Victoria’s Secret, and Bath & Body Works.
Earlier this month, Dillard’s announced it was taking over the former Macy’s location, which closed in March.
Dillard’s is slated to open March 19.
The Mall at Fairfield Commons is the second area shopping center to change hands this week.
On Monday, Hull Property Group announced that it had acquired the Dayton Mall in Miami Township.
Washington Prime Group was the last owner of the property. Spinoso Real Estate Group became the property management and leasing firm after Washington Prime Group’s bankruptcy filing.
The 1.4-million-square-foot enclosed mall is Hull Property Group’s second enclosed mall in Ohio. In 2023, the company acquired Eastgate Mall in Union Township, Clermont County.
John Mulherin, vice president of government relations for Hull Property Group, said the company will work closely with local stakeholders to ensure the mall continues to be an asset to the community.
“The mall is well-positioned withing a vibrant and concentrated retail corridor and already serves as a regional destination, but like many malls across the country, it must also adapt to changing shopping patterns and new uses,” Mulherin said in a statement.
About the Author
