- CASTO Sells Quincy Mall to Cullinan Properties, Inc.
- Monday, April 10, 2006
- Local market presence and product specialty make Cullinan an asset to the property's future
- Columbus, OH — CASTO, a real estate company headquartered in Columbus, Ohio, today announced the sale of Quincy Mall in Quincy, Illinois to Peoria-based Cullinan Properties, Ltd. "Quincy Mall has been a significant asset in our real estate portfolio for many years," said Don M. Casto, III, CASTO partner. In addition to Cullinan's experirence with enclosed malls and local market presence, our decision to sell this property centered around our interest in focusing on our core region of investments, which spans from our headquarters in Columbus, Ohio to growing areas in the southeastern United States including Florida and the Carolinas. Quincy Mall is located on the north side of Broadway at 33rd Street in Quincy, Illinois. Situated at a major bridge crossing of the Mississippi River, the nearest enclosed regional shopping area or mall is 100 miles away. The mall offers exceptional shopping, convenient services and excellent family entertainment in one incomparable location. The 532,123 square foot mall's major tenants include JCPenney, Sears, Bergner's, The Buckle, Bath & Body Works, Victoria's Secret and Kirlin's Hallmark. "This is a great opportunity for us to work with the Quincy community to bring new and exciting retailers to the area," said Chuck Boysen, director of marketing, Cullinan Properties, Ltc. "Our successes with the Shoppes at Grand Prairie in Peopria and with the Shoppes at College Hills in Normal demonstrate our ability to bring national chains, traditional brands, local specialty retailers and some of the hottest names in retail to secondary markets." ABOUT CULLINAN PROPERTIES Cullinan Properties, founded in 1988, is a premier provider of real estate services including commercial real estate devleopment and acquisitions. Cullinan Properites has established a leadership role and expanded commercial real estate presence throughout Illinois and the midwest. The company's mission is to turn commercial real esate ideas into results while providing innovative and successful real estate solutions. To learn more about Cullinana Properties, call (309) 999-1700 or visit http://www.cullprop.com. ABOUT CASTO CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks. CASTO's growing portfolio currently includes over 20 million square feet of commercial property and 5,500 residential units located primarily throughout the midwestern and southeastern United States. Casto Lifestyle Properties, an affiliate company of CASTO, is based in Sarasota, Florida and focuses on the development of mixed-use lifestyle centers. To learn more about CASTO adn its properties, call (614) 228-5331 or visit www.castoinfo.com.
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