Hull Property Group announced the acquisition of the Muncie Mall Jan. 31, according to a press release from the Georgia-based company.
The property adds to the Company’s growing retail property portfolio of almost 20 million square feet, including 35 enclosed shopping malls across 17 states. According to the press release, Hull Property Group has over 45 years of experience specializing in retail real estate and a track record of acquiring and re-positioning underperforming enclosed malls.
“We are excited to join the Muncie community. We love the area, and the Muncie Mall has wonderful redevelopment potential,” said Jim Hull, owner of Hull Property Group said in the release. “We aim to reposition the Muncie Mall by working with community leaders and adjacent property owners to create a successful future for the mall and the Muncie community’s critical retail corridor.”
The group stated they will "invest its time learning the Muncie community and understanding the best path forward."
According to the press release, Muncie Mayor Dan Ridenour said “the stabilization of the mall should be a top priority. It occupies a prominent location in our important retail corridor, and a defined, first-class retail corridor attracts additional retail investment and tenants to our community."
The Ball State Daily News will provide updates as they become available.
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