NEW YORK—New York City-based Garrison Investment Group has acquired a 13-property portfolio totaling 1.7 million sq. ft. of shopping centers in Ohio and Indiana from Kimco Realty Corporation, headquartered in New Hyde Park in N.Y.
Eight of the 13 properties are in Ohio, while the remaining five are located in Indiana. Many of the properties include tenants such as T.J. Maxx, Giant Eagle, Bed Bath and Beyond and others.
Select Strategies Realty, headquartered in Cincinnati, Ohio, has been retained by Garrison to manage and lease the properties.
"While the portfolio is 90 percent occupied, there are still exciting opportunities for upside that work well with our investment strategy," said Mitchell Salmon, senior vice president/director for Garrison Investment Group.
With this acquisition, Garrison holds more than 6.3 million sq. ft. of retail space across the country.