Just east of Cincinnati, demolition crews are busy razing the former Bigg’s grocery-anchored shopping center, Skytop Pavilion, to make way for hundreds of new apartments. A Columbus, OH-based developer purchased the property this summer and just last week started demolition. In its place will be a 361-unit market-rate apartment building with a total project cost of approximately $32 million.
Cincinnati Business Courier Senior Staff Reporter, Tom Demeropolis, posted a story today writing, “Wood Stone IV Holdings Skytop LLC, which formerly owned the portion of Skytop Pavilion that will become apartments, still owns three parcels in front of property, including the building that houses Big Ash Brewing.
OnSite Retail Group is now working to sell these three outlots, ranging in size from nearly 1.6 acres to almost 2 acres. Josh Rothstein and Zamaris Geleszinski are marketing the properties for sale or lease. The largest parcel is 5230 Beechmont Avenue, which is home to Big Ash Brewing. The brewery is not closing, rather the building is up for sale as an investment.” A multi-tenant retail building and a vacant outlot at the signalized entrance to the property are also being marketed.
Demeropolis added, “The parcels had been available previously, but for years the property behind them was an unanchored shopping center. Demeropolis quoted Rothstein, who told him, “With the high-end apartments going up, this is a prime opportunity to develop on Beechmont Avenue and get the traffic that has always been there.”
Read the full Cincinnati Business Courier story here: