The owner of the Dayton Mall has purchased the attached vacant Elder-Beerman store, a major step in redevelopment of the large space.
Washington Prime Group purchased the 220,000-square-foot space from Elder Ohio, a trust registered in Delaware, for $3.6 million. The Miami Twp. location has been vacant since Elder-Beerman closed and went out of business in August 2018.
The property is value at more than $6.4 million as of this year, according to Montgomery County property records.
When malls don’t have control of anchor real estate, it can hold up redevelopment. Washington Prime Group in the past has said it couldn’t fill the space, along with the vacant Sears store, because the company did not own either.
Washington Prime Group’s corporate executives have worked closely with the Elder-Beerman and Sears property owners to create “ideas that will lead to new and exciting development opportunities,” Dave Duebber the mall’s general manager previously told the Dayton Daily News.
“There’s plans in the works,” Duebber said today. “This has been a long process so we’re excited.”
Duebber declined to comment further on the recent sale, but the Dayton Daily News will provide more information from owner Washington Prime Group as it becomes available.
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