Local Shopping Center up for Auction

Jasper (NNDC):

Jasper Manor Shopping Center on the city’s southeast side will be auctioned online in late April. This is not a guarantee that it will sell or displace current occupants.

Property owner Phillips Edison & Company of Cincinnati  say interested bidders must register for the auction.  Specifics of the property are listed under the retail tab as well as a $25,000 fee. Bidding will begin at $1.2 million, however the company expects and hopes the winning bid to be over $6 million.

The shopping center opened in 1990, has 194,000 square feet of  space. Of that, roughly 130,000 square feet is open and available.

Tough economic times have hit the center, the number of tenants have shrunk especially with the closings of JC Penney and Kmart.. Just in the past year, the center lost longtime store Kmart.

For further information, call 513-910-6414 or visit their web site at aedwards@phillipsedison.com

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