Hull Property Group Acquires EastGate Mall
September 5, 2023 – Hull Property Group announced today the acquisition of the EastGate Mall in Cincinnati, Ohio. The property adds to the company’s growing retail property portfolio of over 18 million square feet, including 34 enclosed shopping malls across 17 states.
“We are excited to join the Greater Cincinnati and Union Township community. We love the area, and EastGate Mall can and should continue to be a viable shopping and dining destination,” said Jim Hull, owner of Hull Property Group. “We aim to reposition EastGate Mall by working with community leaders and adjacent property owners to create a successful future for the mall and the Union Township’s critical retail corridor. The first step is participating in a vision for the area and ensuring all stakeholders are engaged.”
Union Township Board of Trustees Chairman Joe Dills agreed, stating, “The stabilization and reimagining of the mall is a top community priority. It occupies a prominent location in our retail corridor and represents a great redevelopment opportunity. We are pleased that a group with the experience of Hull Property Group has purchased the mall, and we look forward to working with them.”
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. The Company has a consistent record of property redevelopment and improvement and is committed to providing new investment capital, building strong community relationships to foster economic development, and being a good steward of the mall. Good stewardship is the underpinning of the Company’s investment strategy.
“The decline of this property did not occur overnight, and it will not be fixed overnight. Regional malls across the country are struggling with the new realities of retail - changing shopping patterns, the rise of internet sales, and simply too much space and too few tenants,” said John Mulherin, Vice President of Government Relations. “We must be adaptable, and there are many ways to creatively reconfigure properties to accommodate retail, commercial, civic, hospitality, and other types of uses. We look forward to getting to know the stakeholders in the area and being the good stewards that this important property needs”.
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