The malls have weathered the Internet era, the Age of Amazon, and economic vicissitudes large, small and middling. Recent ownership changes, announced with hours of each other, are our first story.
In this newsletter:
- The shutdown showdown drags on, with new consequences.
- New life for the LexisNexis campus in Miami Twp.?
- What a new intercity bus operator means for Dayton and Ohio.
Two big area malls sold
Credit: Nick Graham
Credit: Nick Graham
The two big Dayton-area malls had sales announced with 48 hours of each other this week. Here’s what you need to know.
Dayton Mall: Hull Property Group announced that it acquired the mall at 2700 Ohio 725 in Miami Twp. Hull said that with more than 45 years of experience in retail real estate, it specializes in acquiring and revitalizing regional enclosed malls.
Fairfield Mall: Spinoso Real Estate Group and Kiza Capital purchased the 1.1 million-square-foot mall from Westerville-based Washington Prime Group with plans to pursue reinvestment and growth.
Read the Fairfield Mall story.
ALSO: Dayton Mall owner looks ahead.
Grocers, retailers brace for interruption of benefits
Where we are: At this writing, the lapse in federal government funding continues. Grocers and retailers who accept Supplemental Nutrition Assistance Program funds are bracing for a drop in sales starting this weekend as funding for the federal food assistance program dries up.
- Greg Ferrara, president and CEO of the National Grocers Association, said the lapse will disrupt food access, creating instability for shoppers, retailers and communities.
What we’re hearing locally: “With SNAP benefits set to be halted beginning Nov. 1, we’re preparing for a ripple effect across the community,” Tina Patterson, CEO of Homefull, told Reporter Michael Kurtz. “We’re already seeing individuals and families struggle to make ends meet, and many are turning to Gettysburg Grocery and our other Homefull programs for help.”
ALSO: What’s at stake locally as shutdown drags on.
ALSO: State lawmakers decline to use state funds to cover lapse.
YES, BUT: Executive order offers some help.
ICP, Miami Twp. formulate plans for LexisNexis campus
Credit: Nick Graham
Credit: Nick Graham
What may be ahead: It’s fair to say that LexisNexis doesn’t have the Miami Twp. presence it once had. But in commercial development as in life, when one door closes, another sometimes opens.
- Industrial Commercial Properties LLC (ICP), a Cleveland-based commercial real estate development company, has been making improvements to the LexisNexis campus in Miami Twp., positioning the site for the future.
Mixed uses? Alex Carlson, community development director for Miami Twp., said there have been early conversations with ICP about building restaurants and perhaps a hotel on the property to further advance the campus.
Land in Trenton positioned for 1-million-square-foot data center
Credit: Nick Graham
Credit: Nick Graham
Setting the stage: A California-based real estate company has purchased 141 acres of land in the Butler County city of Trenton for a planned one million-square-foot data center.
The company, Prologis, and Trenton closed on the sale recently, said Mattie Sorrentino, Prologis’ vice president of communications.
Data deal: Though a final sale price was not disclosed to Reporter Bryn Dippold, a purchase agreement Prologis reached with the city in April 2024 listed the sale price at $55,000 per acre — approximately $7.7 million for a total 141 acres.
GoBus connects Dayton, area cities
What’s happening: An intercity bus operator plans to launch routes that will connect Dayton, Yellow Springs, Springfield and Middletown to some of Ohio’s big and small cities.
- GoBus said it will create four bus routes, including one that goes from Toledo to Cincinnati, with stops in Urbana, Springfield, Yellow Springs, Dayton, Middletown and Oxford.
What they’re saying: “We believe this will be a step in knocking down any barriers for transportation for people who don’t have access to a vehicle,” said Matt Bruning, press secretary for the Ohio Department of Transportation, which administers federal funding that supports the program.
Newsletter numbers
$25 million: The expected top amount of state support for food assistance to help families affected by the impending suspension of Supplemental Nutrition Assistance Program benefits due to the federal government shutdown.
20 million: The new owner of the Dayton Mall has a portfolio of more than 20 million square feet, including 37 enclosed shopping malls across 17 states.
1.4 million: The Ohio Department of Job and Family Services estimates 1.4 million Ohioans would be impacted by the loss of SNAP funds. More than 200,000 residents in this region rely on SNAP to help feed their families.
Contact me: Thanks as always for reading. Tell me about your business at tom.gnau@coxinc.com or at X. I’m also on LinkedIn and on our Dayton Business page, with my colleagues. Find me as well on my Facebook page.
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