Bluejay Management Buys 209 KSF Retail Asset
- Dec 20, 2019
Bluejay Management has acquired a 209,621-square-foot retail property in Steubenville, Ohio. JLL represented the seller, Kohan Retail Investment Group. Walmart fully occupies the asset under a net lease agreement.
Located at 100 Mall Drive on a 16.2-acre plot, the asset is alongside the Fort Steuben Mall, which Kohan owns. The larger shopping center is home to a number of retailers including AMC Theatres, JCPenney, Dick’s Sporting Goods and Bath and Body Works. The property is some 40 miles west of downtown Pittsburgh, close to the Ohio-Pennsylvania border.
The JLL team working on the deal included Managing Directors Marc Mandel and Claudia Steeb and Director Steve Schrenk.
Kohan had acquired the Fort Steuben Mall along with the Walmart-occupied building in December 2017 for $10.8 million, according to WTOV9. The company also owns the Washington Crown Center in Washington, Penn., which it purchased from PREIT in 2016. Kohan’s portfolio also includes the Chapel Hill Mall in Akron, Ohio, Colonial Park Mall in Harrisburg, Penn., Lycoming Mall in Pennsdale, Penn. and Richmond Town Square in Richmond Heights, Ohio.