TRANSACTION MARKS THE SECOND ENCLOSED MALL ACQUISITION FOR OWNER
Miami, Fl. – Out of the Box Ventures, LLC, a subsidiary of leading Miami-based global real estate development firm, Lionheart Capital, announces the acquisition of Honey Creek Mall in Terre Haute, Indiana. The 676,322 square foot enclosed mall is anchored by JCPenney and Vendors Village and hosts other national tenants including Victoria’s Secret, American Eagle Outfitters, Bath & Body Works, ULTA Beauty, Hollister, Lenscrafters, and Journeys, among others. Located just off of US Highway 41, the property is the only significant regional retail offering along Interstate 70, the major travel route from Indianapolis to St. Louis.
“With the presence of numerous colleges and universities and the regional draw of Terre Haute, the city is on an upward trajectory for growth and we are excited to be a part of that continued change and expansion with Honey Creek Mall,” notes Ophir Sternberg, Founding Partner & CEO, Lionheart Capital.
“The opportunities to re-tenant the former Macy’s and Sears spaces present a plethora of opportunities to bring new and exciting retailers to Terre Haute,” commented Ashley Thornburg, Director of Retail Operations, Lionheart Capital. “The mall’s presence along Interstate 70 presents a unique opportunity to have a widespread reach and provide distinctive and innovative offerings to those in and around Terre Haute.”
“The team at Honey Creek Mall is looking forward to this next chapter,” shares veteran General Manager Kim Ingalsbe, who has served in her role for the past 23 years and initially started as the mall’s marketing director in 1988. “We are confident that Lionheart Capital will be an instrumental part of spring boarding the mall to its fullest potential.”
Out of the Box Ventures has retained prior owner, CBL & Associates, to continuing managing the asset and spearhead the leasing efforts for the mall.