EastGate Mall is under new ownership — and they plan to reimagine the shopping center.
Hull Property Group announced Tuesday that it acquired EastGate, which was previously owned by 11 different companies. The mall's acquisition joins Hull's retail portfolio, which includes 34 shopping malls across 17 states over its more than 45 years of business.
"We are excited to join the Greater Cincinnati and Union Township community," said Jim Hull, owner of Hull Property Group. "We love the area, and EastGate Mall can and should continue to be a viable shopping and dining destination."
Currently, EastGate Mall, which is located right off I-275, is home to dozens of retail stores, including Kohl's, American Eagle Outfitters, Bath & Body Works and more. The mall also has dining options like O'Charley's and Auntie Anne's Pretzels, as well as entertainment options, including Glow Golf.
Hull said the property group aims to "reposition" EastGate Mall to create a "successful future for the mall and Union Township's critical retail corridor." The company aims to do this by working with community members and adjacent property owners.
"The first step is participating in a vision for the area and ensuring all stakeholders are engaged," Hull said.
Joe Dils, chairman of the Union Township Board of Trustees, said "the stabilization and reimagining of the mall is a top community priority."
Earlier in July, the Union Township Board of Trustees hired a master planning firm to help solicit community and business feedback about the property to determine its best use.
"It’s prime real estate. It's located right off of I-275 in Union Township, the largest township in our county," Clermont County Chamber President Joy Lytle told WCPO 9. "This property is too important to let it sit there for another 10 years. Clermont County is poised for an economic boom."
The mall's purchase comes as malls across the country struggle with the new reality of shopping, whether that be the rise of internet sales, too few tenants or changing shopping patterns.
"The decline of this property did not occur overnight, and it will not be fixed overnight," said John Mulherin, vice president of government relations.
Mulherin said the property group needs to be adaptable going forward.
"There are many ways to creatively reconfigure properties to accommodate retail, commercial, civic, hospitality and other types of uses," Mulherin said.
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