Piqua Center

Piqua, OH

Active

Kumo Capital, in partnership with Brait Capital, successfully acquired the Piqua Center. This property offers a unique opportunity to unlock significant value through the strategic transformation of traditional retail space into a dynamic, multi-purpose venue that combines flex industrial, retail, and recreational uses. Piqua is designed to meet the specific needs of its community, positioning it as a vital asset in the area.

Property Highlights

The Piqua Center is 523,000SF located on 60 acres

Overview

The location of the Piqua Center is directly off I-75, benefitting from more than 50,000VPD
The property has a wide variety of different sized retail units, catering to a number of different tenant requirements
Upon completion, Piqua is meant to be a hub for the community featuring weekly events to draw in traffic to the center

Tenant Mix

As is, the property caters to a number of varying retail businesses
By revitalizing the property and strategically repurposing underutilized units, we aim to enhance the diversity of the retail tenant base, attract national chains, and introduce flex industrial users to create a more dynamic and versatile tenant mix.

Overview

Kumo and Brait’s redevelopment of the Piqua property represents a compelling value-add investment opportunity, driven by a favorable acquisition basis well below replacement cost. Existing tenants provide stable cash flow, mitigating holding costs and helping to fund phased improvements.

The strategic plan includes converting the former Sears box into small-bay flex units with direct drive-in access, catering to diverse tenant needs.
Additionally, a portion of the mall will be reimagined as a recreational space with a lounge and a modernized food court, enhancing its appeal and functionality.

Once completed, the project is positioned to achieve significantly higher occupancy rates and net operating income relative to traditional mall centers, maximizing long-term asset performance and return potential.