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Hutensky Group Acquires Kmart Anchored Centers for $14.8M

HARTFORD, CT-An affiliate of The Hutensky Group LLC has acquired four Kmart-anchored shopping centers in the Mid-West from Malan Realty Investors for $14.8 million.

By John Jordan | Updated on August 13, 2002

HARTFORD, CT-In a deal valued at $14.8 million, an affiliate of The Hutensky Group LLC has purchased four Mid-West shopping centers that are each anchored by Kmart from Malan Realty Investors of Birmingham, Mich.

The properties involved in the deal total 433,900 sf of retail space and include Sherwood Plaza of Springfield, IL; Kmart Center of Salina, KS; South City Center of Wichita, KS and Kmart Plaza of Jefferson City, MO.

“This acquisition represents a continued execution of our strategy to purchase value-added retail properties for our investment fund,” says The Hutensky Group President Brad M. Hutensky. “Our goal is to purchase another $200 million in retail property over the next 12 months and we look to motivated owners and brokers to help us meet that target. We have lots of discretionary capital, can close quickly and are not afraid of lease-up risk when it comes to quality centers.”

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