In The News

Greater Cincinnati shopping center sells for $69M

November 6, 2014  |  Voice of America Shopping Center
Voice of America Shopping Center

Cincinnati Business Courier

In one of the largest commercial real estate transactions of 2014, the Voice of America Centre in West Chester sold for $68.6 million on Oct. 31, according to Butler County property records.

Subsidiaries of MetLife Core Property Fund GP LLC in New Jersey purchased the property from VOA I Development Co. LLC and VOA II Development Co. LLC.

The more than 435,000-square-foot outdoor retail center on Voice of America Drive is anchored by a Target store, but the retailer will maintain ownership of its land. Other tenants include The Fresh Market, T.J. Maxx, Office Depot, Petsmart and Michael's.

Sycamore Township-based Midland Atlantic completed the development in 2004. Managing principal John Silverman said he didn't have any comment on the sale on Tuesday afternoon.

The purchase follows a string of retail center sales that have taken place this year, including the recent sale of the second phase of Newport Pavilion for $23 million, a $7.5 million deal on a center in Deerfield Township, and Ursuline Academy's decision to buy a nearby retail center for $4.8 million.