Kumo Capital, in partnership with Brait Capital, is excited to announce the acquisition and redevelopment of the Piqua Center, a 523,000-square-foot property situated on 60 acres in Piqua, Ohio. This transformative project repositions the Piqua Center as a dynamic, multi-purpose venue combining flex industrial, retail, and recreational spaces to meet the evolving needs of the community.
Strategically located directly off I-75, the Piqua Center benefits from visibility to more than 50,000 vehicles per day (VPD). With its wide variety of retail unit sizes, the property is designed to accommodate diverse tenant requirements. Upon completion, the Piqua Center is envisioned as a vibrant community hub, hosting weekly events to drive foot traffic and foster engagement.
Currently, the property supports a variety of retail businesses, offering steady cash flow during the redevelopment process. By revitalizing underutilized spaces, Kumo Capital and Brait Capital aim to:
- Enhance tenant diversity and attract national retail chains through heightened property occupancy
- Introduce flex industrial and recreational users to broaden the property’s functionality
- Optimize occupancy rates by not limiting uses at the property to solely retail
Key components of the redevelopment include:
- Converting the former Sears box into small-bay flex units with drive-in access to serve diverse business needs.
- Reimagining a portion of the mall as a recreational space, complete with a lounge and modernized food court, to enhance community appeal
Investment Opportunity
Acquired at a basis well below replacement cost, the Piqua Center represents a compelling value-add opportunity. Existing tenants generate reliable cash flow, mitigating holding costs and funding phased improvements. Upon completion, the property is projected to achieve significantly higher occupancy rates and net operating income (NOI) than traditional mall centers, unlocking long-term asset value and maximizing investor returns.
Kumo Capital and Brait Capital are proud to execute this vision for the Piqua Center, transforming it into a cornerstone of the community and a high-performing asset within their portfolio.
