Kize Capital LP, an investment management company with a long-term, value-oriented investment philosophy, and Spinoso Real Estate Group, a privately-held New York-based real estate firm specializing in the management and leasing of large-scale enclosed shopping malls across the U.S., have acquired SouthPark Mall, a two-level enclosed shopping center in Strongsville (metro Cleveland), Ohio from Starwood Capital.
“We are thrilled and excited about the acquisition of SouthPark Mall. The property has a long history of success, and we recognize its importance in the greater Strongsville community,” said Carmen D. Spinoso, chairman and CEO of SREG. “We see significant potential to further enhance and evolve SouthPark Mall, building upon its established success. We are committed to reinvesting and re-energizing the center to continue to serve the vibrant city of Strongsville as a core gathering place for the families and the community it serves.”
Opened in 1996 and one of the largest malls in Ohio at nearly 1.68 million square feet, SouthPark Mall is anchored by Dillard’s, JCPenney, Macy’s, Kohl’s, Dick’s Sporting Goods and Cinemark, and boasts a vibrant national and local tenant mix, and a strong, robust local market. SREG is anticipating to implement, in conjunction with community stakeholders, a value-building strategy the center.
As owners, Kize and SREG will handle SouthPark’s management, leasing, redevelopment, operations and marketing.