August 8, 2022
LEXINGTON, KY. – BC Wood Properties announces the acquisition of Newport Shopping Center, a 267,665 square-foot shopping center, as well as Newport Plaza, a 161,734 square-foot adjacent retail center. The neighboring shopping centers are conveniently located at the corner of Monmouth St. and Carothers Rd., directly off Interstate 471 in Newport, Kentucky.
Tenants in the Newport Shopping Center include Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block, and GNC, while Newport Plaza tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree, and both Centers include other locally owned businesses. The two shopping centers are located three miles south of Cincinnati, in the heart of the densely populated Newport municipal area.
The properties were purchased for the benefit of BC Wood Real Estate Fund III, LP, the Company’s third private equity fund. The portfolio contains a blend of centers anchored with national retail tenants as well as grocery-anchored properties.
“We look forward to operating in Newport, Kentucky. We plan to continue to add businesses that will stimulate the growth of the surrounding community.” said King Offutt, President and COO of BC Wood Properties. With the addition of the two Newport centers, BC Wood Properties now owns and operates 10 shopping centers in the Company’s home state of Kentucky.
BC Wood Properties is a Lexington, Ky. based commercial real estate company in its 28th year of business. The Company focuses on the acquisition and operation of value-add retail shopping centers in the Midwest and Southeast regions of the U.S.