SEPTEMBER 11, 2024 – The Madamore is an exciting mixed-use project at a key corner in Cincinnati’s burgeoning neighborhood of Madisonville, and its developer, Ackermann Group, realized they needed a new approach to jump-start the retail leasing to energize the project.  Christian LeDuc, Staff Reporter at Cincinnati Business Courier, explained in a story posted yesterday that, “The Madamore is Ackermann Group’s more than $80 million development in the heart of Madisonville, at the corner of Madison Road and Whetsel Avenue. The developer is partnering with a new broker, OnSite Retail Group, in hopes of filling some of the spaces that are still vacant at the site.”

 

LeDuc pointed out the development, which was started in 2018, has been very successful with the leasing of its residential units boasting an occupancy rate of 93% of its 312 units.  The Madamore has some commercial tenants, but as LeDuc explained, “it’s not enough to truly transform Madisonville’s business district. The group needs strong anchor tenants to drive the nightlife and business of the other retailers.”

 

LeDuc quoted Ackermann Group’s CFO, John Wendt, who told LeDuc, “We took over all four blocks of Madison and Whetsel, and it was to rebuild the downtown that had long ago been dilapidated.  “We had to reinvigorate the whole area.”  This meant finding the right marketing and leasing team for the project.  In July, Wendt reached out to Josh Rothstein and Haleigh Jones at OnSite Retail Group.  Wendt told LeDuc as he explained his proposition to OnSite Retail Group, “I said, ‘I’m interested in a change, and I want you to come evaluate my property.  Tell me what you like and dislike. I need you to be honest with me.’”  Wendt then told LeDuc, “They clearly have a lot of momentum in the marketplace and to have them take on this engagement is good for us.”

 

Rothstein explained to LeDuc, “What Ackermann developed is the perfect project to be the stimulus in a neighborhood to corral the center of entertainment just like Milford has in the area right around where Little Miami Brewing is and in Pleasant Ridge right where Goodfellas is.”  Anyone interested in leasing information should reach out to Josh Rothstein at josh@onsiteretailgroup.com or Haleigh Jones at haleigh@onsiteretailgroup.com

 

Click here to read the full story in Cincinnati Business Courier: https://www.bizjournals.com/cincinnati/news/2024/09/09/ackermann-onsite-retail-madamore-madisonville.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=CI&j=36676758&senddate=2024-09-09&empos=p9