| Firm makes shopping center buy official Camden News 6-8-2011 By ALEX AYRES Staff Writer The Country Side Plaza in Camden has officially been purchased by a partnership consisting of Henzlik-Oliver Real Estate Companies, LLC and Joshua Simon of S/I Real Estate, according to a news release from the Henzlik-Oliver Real Estate Co.
The ownership group plans major redevelopment of the shopping center located at U.S. 278 and Cash Road, according to the release. The company will begin renovating the property into the Camden Marketplace.
The 90,000 square foot center that was formerly occupied by Kroger and Walmart was bought at the price of $600,000, according to Tyler S. Oliver, partner in Henzlik-Oliver Real Estate Co. He said that they began construction on June 1 and will start turning spaces over to the tenants beginning with Atwoods Ranch and Home during August and It’s Fashion, Dollar Tree, and Shoe Show in September. An official opening date has not set, he said. The Cato store will continue in its current location.
"The center has been neglected for years and it is time to redevelop a great piece of real estate in a strong tertiary market," Simon said in the news release. The redevelopment will include new tenant spaces, store front additions, parking lot improvements and other improvements to the property. Henzlik-Oliver Real Estate Co. is located in Overland Park, Kan., and develops and invests in retail properties.
A $163,510 incentive was paid to Henzlik-Oliver Real Estate Co. from Ouachita Partnership Economic Development general economic development funds.
When the redevelopment project was announced, Oliver explained during an OPED meeting on April 27 that the project is based on return that the company needs to meet and the incentive funds put the project in an acceptable range to appeal to banks when the company approached them for funds to begin construction. |
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