BEACHWOOD, Ohio--(BUSINESS WIRE)--Chase Properties Ltd., a Beachwood, Ohio-based owner and operator of shopping centers, announces the acquisition of Lakeland Commons in Flowood, Mississippi. Lakeland Commons is an approximately 460,000 square foot shopping center that is anchored by Hobby Lobby, Ross Dress for Less, Babies R Us, Shoe Station and Party City. The property is shadow-anchored by Kohl’s and Lowe’s. CBRE brokered the sale.
The property is located in the heart of Flowood’s retail intersection, a dominant retail destination in the Jackson metropolitan statistical area (MSA), consisting of many high-performing national tenants.
Lakeland Commons is Chase Properties’ first property in Mississippi, as the company continues to expand geographically by acquiring high quality shopping centers in secondary and tertiary markets. According to Andy Kline, Chase Properties’ Principal and Managing Director, “We are very excited to establish ourselves in Mississippi through the acquisition of an outstanding shopping center that perfectly represents our strategy.”
Chase Properties Ltd is a full service owner and operator of shopping centers located in 16 States throughout the Midwest, Southern and Eastern U.S. The company was founded in 1973. Currently, Chase Properties owns and manages 31 shopping centers comprised of over 7 million square feet. Additional information can be found at www.chaseprop.com.