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Updated: 7:16 p.m. Friday, Feb. 15, 2013 | Posted: 5:33 p.m. Friday, Feb. 15, 2013
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By Rick McCrabb
MIDDLETOWN —
Six new tenants have signed leases since the Towne Mall was purchased by a California-based developer late last year, and the mall hopes to land several national retailers and possibly entertainment venues.
Chris Hodge, first vice president of CBRE, a Cincinnati-based real estate broker, said his company was hired about a month ago by Towne Mall to recruit national retail chains. He said CBRE has contacted “numerous” possible tenants, but no leases have been signed and he wouldn’t release names of tenants he’s courting.
“We’re out there making all the contacts we can,” he said.
This week CBRE released a rendering of the Towne Mall with a listing of national tenants and a movie theater, but Hodge said that was intended to show perspective clients how the mall could look. An image of the rendering was removed Friday from one local website, as requested by Towne Mall officials.
Hodge said he believes the Towne Mall, or whatever the new owners eventually name it, can become “an important” retail center in the city’s East End. While other businesses and restaurants near Interstate 75 and Ohio 122 have thrived, the mall has struggled, and at its lowest point, it was referred to as a “dead mall.”
The large sign on Ohio 122 reads Towne Mall, but “District at Middletown” and “Middletown Galleria” have been mentioned as possible new names by George Ragheb, one of the investors.
Trisha Hale, general manager of the mall, said three new leases recently were signed, including Wigs For a Change, a salon that deals with area hospitals and cancer patients; Splattered Platter Pottery Studio, a paint-it-yourself business that also has a location on Central Avenue, and My Gadget Solution, a gaming and cell phone store.
Hale said All About You Catering Co., a downtown Middletown business, is moving into the Towne Mall food court and will offer sit-down dining, catering and a bakery.
She said one businessman will open two restaurants: one with a Greek focus, the other an ice cream and smoothie franchise.
Hale said she’s “tremendously excited” about the new tenants and the long-range plans for the mall. Eventually, she said, the mall will become “a destination for the entire area.”
The mall property was purchased for $850,000 by SA Mary LLC and Blessing Co. in November 2012, and Ragheb has said his company plans to spend $20 million to $25 million renovating the 465,451-square-foot shopping center, which opened in 1977.
Since the mall was purchased, officials at Dunham’s Sports and the mall couldn’t agree on a new lease, so the sporting goods department store closed.
New tenants
Wigs For a Change, a salon that deals with area hospitals and cancer patients
Splattered Platter Pottery Studio, a paint-it-yourself business that also has a location on Central Avenue
My Gadget Solution, a gaming and cell phone store
All About You Catering Co., a downtown Middletown business, is moving into the Towne Mall food court and will offer sit-down dining, catering and a bakery
Two new, to-be-named restaurants: one with a Greek focus, the other an ice cream and smoothie franchise
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