A freshened-up Chapel Hill Mall works to attract and keep shoppers and storesOctober 20, 2015
"Freshened-up Chapel Hill Mall works to attract, keep shoppers and retailers; new owners invest in upgrades, prevent site from becoming another Rolling Acres", by Jim Mackinnon, Akron Beacon Journal business writer, published October 16, 2015.
AKRON, OHIO - Matthew D. Mason, Managing Director & Partner, Institutional and Owned Commercial Real Estate, is pleased to share today a very favorable article published by the Akron Beacon Journal which recognizes McKinley's efforts to turn around the local Chapel Hill Mall.
From the article...
Jill Litzel figures she has been shopping at Chapel Hill Mall in Akron at least half of her life. The Cuyahoga Falls resident, now 40, admits she has had her doubts about the mall in recent years. “It got shady for a while,” Litzel said. “It looks like it’s bouncing back. ... And now Litzel said she is looking forward to bringing her daughter, who turns 1 in November, to the mall on a regular basis. “I feel safe bringing her here now,” she said. “There’s a lot for her to look at. It’s a nice place to bring a little one.” Since Chapel Hill Mall went into — and out of — foreclosure and receivership last year, the company running the property on a day-to-day basis, Ann Arbor, Mich.-based McKinley Inc., has been putting money into the mall, apparently on behalf of mall trustee U.S. Bank.The mall operators appear to be doing the right things to keep the site viable, industry observers and others say"
"We are proud of our efforts at the Chapel Hill Mall, and we appreciate the very positive feedback we have received from the municipal leaders, the community and our customers who frequent the mall" offered Mason, Managing Director & Partner. Our Institutional Commercial Real Estate team is uniquely able to resolve very complex retail repositioning assignments and we welcome this opportunity to tackle the tough challenges presented. As a part of the Akron community for over 25 years, we are also pleased that we are able to further enrich the quality of life for all of our customers” added Mason.
"Matt and his team have tackled very distressed assets that most major players in the industry would not consider taking on, and they generate extraordinary results and loan loss recoveries that are second to none" said Albert M. Berriz, McKinley's CEO and Co-Managing Member. "They are truly wired to find unique ways to cut expenses, lease space, and reposition the asset physically to create substantial value for our institutional clients in these very distressed situations" added Berriz.