JV Acquires Cincinnati Retail Space
- Sep 25, 2019
A joint venture comprising Konover South, Zucker Investment Group and Truett Realty Group has paid $1.4 million for a ground-floor retail space part of the shopping area around Hyde Park Square in Cincinnati. Almost two thirds of the purchasing price—$920,000—was covered by a loan from KS Lending Corp., a Konover South company. SAB Capital Managing Partners Aaron Baum and Preet Sabharwal represented the seller.
The space encompasses 3,651 square feet and is located on the corner of 3500 Michigan Ave. and Erie Avenue. It houses a landmark Lululemon store as well as a Breadsmith bakery, which anchor the luxury Michigan Terrace residences.
The shopping area is less than 5 miles from downtown Cincinnati and Jack Cincinnati Casino, which has recently been sold to VICI Properties in a $558 million cash deal. Hyde Park Square is home to more than 175 shops, businesses and events including Hyde Park Square Art Show, the largest juried art show in the Midwest held annually in October. In the center of the area lies a landscaped island park featuring lawns as well as the historic Kilgore Fountain.