Ohio regional mall sells for $31.5 million

1/12/2017

Time Equities has acquired Colony Square, a 425,430-sq.-ft. mall in Zanesville, Ohio, for $31.5 million. It’s now the largest property in the company’s Ohio portfolio.



The enclosed regional mall is anchored by J.C. Penney, Cinemark, Dunham’s Sports, and the Elder-Beerman department store. Urban Retail Properties will handle management, marketing, and leasing at the property on behalf of TEI.



“Time Equities continues to source potential opportunities for growth and diversity within our retail portfolio, which now spans 24 states,” said Ami Ziff, TEI’s director of national retail “We were attracted to Colony Square’s strong leasing momentum, evidenced by recent leases signed with noted brands such as TJ MAXX, Shoe Carnival, and Planet Fitness.”



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