MIAMI TOWNSHIP — The Dayton Mall has been acquired by a Georgia-based property group.
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Hull Property Group, based in Augusta, Georgia, announced its acquisition of the Dayton Mall on Monday.
“We are excited to join the Greater Dayton and Miami Township community. We love the area, and Dayton Mall can and should continue to be a viable shopping and dining destination,” Jim Hull, owner of Hull Property Group, said.
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The group specializes in acquiring and revitalizing regional enclosed malls. They currently own 37 enclosed shopping centers across 17 states.
Hull Property Group leadership said in a release that they’re looking forward to working with local stakeholders to develop a shared vision for the mall’s future.
“The mall is well-positioned within a vibrant and concentrated retail corridor and already serves as a regional destination, but like many malls across the country, it must also adapt to changing shopping patterns and new uses. While the property has a solid foundation, there are opportunities to creatively reconfigure and enhance it to better serve retailers, customers, and the community,” John Mulherin, Vice President of Government Relations, said.
Miami Township officials said the timing of the acquisition has been “perfect” as it aligns with the township kicking off the Miami Crossing District Master Plan. Officials said the plan is a newer version of the 2015 Dayton Mall Master Plan.
“This new plan is intended to consider current market conditions and current stakeholders in planning for the future of the mall area. We believe that while the mall will likely look very different than it does today, this Miami Crossing District Master Plan and collaboration with Hull will guide the future of the area,” Alex Carlson, Miami Township’s Community Development Director, said.
Carlson added that the acquisition and investment by Hull Property Group points to “a strong belief in the long-term viability and growth” of the entire community.
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