MARION, OH- Mark Mascia and his real estate company are expanding their base in the Buckeye State with the purchase of a shopping plaza in Marion, Ohio.
Earlier this month, Mascia Development LLC (MasciaDev.com) purchased an 11,920-square-foot shopping plaza at 1418 Mount Vernon Ave. – directly across the street from The Ohio State University at Marion campus – for $2.5 million. The property’s tenants include Aspen Dental, Kay Jewelers, Tan Pro and the Iron Chef restaurant. “The quality of the tenants and a strong educational center across the street made this property attractive for us, and they help make Marion a hidden gem,” said Mark Mascia, president and CEO of Mascia Development LLC.
Mascia Development LLC owns and manages large-scale properties along the East Coast. In 2012, as part of its move westward, the company purchased a Cincinnati property located in the shopping mecca of Hyde Park Square.
Mark Mascia has deep roots in the state of Ohio. Mascia was born in Dayton, his parents met while attending The Ohio State University, and many maternal relatives live and work in Cincinnati.
“I am delighted that Mascia Development is making another strong investment in my home state of Ohio,” Mascia said. “This acquisition in Marion is part of our company’s strategy to expand our presence in Ohio, and we plan to continue to acquire properties across the state, particularly in the retail, medical office and multi-family apartment sectors.”
Mascia cited Cincinnati, Cleveland and Columbus as specific target markets, and he said the company is interested in working with local partners on joint-venture deals to further expand in the state.
About Mascia Development LLC
Mascia Development LLC (MasciaDev.com) is a diversified real estate firm that develops, acquires, owns and manages student housing, retail, medical office, and multi-family real estate properties. A fully integrated real estate company, Mascia Development has in-house capabilities in acquisitions, financing, development/reuse and construction, and its principals have experience in property and portfolio management, leasing and maintenance. The company is based in New York City.