Viking Partners has acquired two shopping malls: Market at Morse in Columbus, Ohio and Timbercrest at Lakeview in Lakeview, Minnesota. No financial terms were disclosed.
CINCINNATI–(BUSINESS WIRE)–Viking Partners Fund III, LLC (“Fund III”), a private equity real estate investment firm focused on the acquisition, turnaround and disposition of value-add real estate and real estate related assets in the Midwest and Southeast United States, announced the acquisition of two retail properties, Market at Morse, Columbus, Ohio and Timbercrest at Lakeview in Lakeview, Minnesota.
Market at Morse is a 33,827 square foot shopping center located at the intersection of Hamilton Road and Morse Road in the eastern suburbs of Columbus. In addition to the shopping center, Market at Morse includes three freestanding restaurants totaling 10,915 square feet, with leases in-place with Starbucks, Raising Cane’s and Bob Evans.
Timbercrest at Lakeview is a 59,269 square foot shopping center anchored by Marshalls and shadow anchored by Super Target. Located in southern suburban Minneapolis, it is strategically positioned at the intersection of I-35 and 185th Street and is part of a larger development of restaurant, retail and medical office uses.
“Each property provides value add opportunities consistent with Viking’s approach toward asset enhancement,” said Bret Caller, Principal with Viking Partners. “Market at Morse provides Viking with the opportunity to create additional value through the lease of 6,200 square feet of existing available space and we are currently in negotiations with a well-recognized national retailer to lease 20,000 square feet of the 26,000 square feet of available space at Timbercrest.”
For information on the entire Viking portfolio, visit www.vikingpartnersllc.com. To connect with Viking Partners via LinkedIn, visit www.linkedin.com/company/viking-partners-llc.
ABOUT VIKING PARTNERS, LLC
Since 1991, the principals of Viking Partners have invested in more than 100 commercial real estate projects totaling over four million square feet and valued at more than $500 million. Viking Partners is currently seeking acquisition opportunities in the Midwest, Southeast and Southwest with a transaction range of $2 million to $50 million.