Josh Rothstein and Jeff Smith with OnSite Retail Group represented Schottenstein Property Group in the recent sale of a portion of Latonia Plaza in Covington, KY, just a few miles south of downtown Cincinnati. Tom Demeropolis, Senior Staff Reporter from Cincinnati Business Courier wrote a story on May 6th describing how two fast-growing technology companies came together on the deal for the former Value City Furniture and Burlington Coat Factory spaces to transform former retail space into a tech hub.
He wrote, “The owners of Blair Technology Group and ReGadget LLC have purchased a large portion of Latonia Plaza in Covington and plan to transform the vacant retail space into modern workspace. Covtech Investments LLC purchased about 200,000 square feet of space from Schottenstein Property Group for nearly $3.85 million.
Rothstein said having a large vacancy like that can often be the “kiss of death” for continued leasing efforts. Devising a solution to sell off the anchor preserves the integrity of the center and provides the creativity necessary to adapt in the evolving retail environment.
“It will be great to have this infusion of momentum into the plaza,” Rothstein said.
Click here for the full story: OnSite Retail Group brokers major Northern Kentucky sale