FOR IMMEDIATE RELEASE
CLEVELAND, OH – May, 11, 2021 – Kize Capital LP (“Kize”), an investment management company with a long-term, value-oriented investment philosophy, and Spinoso Real Estate Group (“SREG”), a privately held New York-based real estate firm specializing in the management and leasing of large-scale enclosed shopping malls across the USA, announced today the acquisition of SouthPark Mall, a two-level enclosed shopping center in Strongsville, Ohio.
“We are thrilled and excited about the acquisition of SouthPark Mall. The property has a long history of success, and we recognize its importance in the greater Strongsville community,” said Carmen D. Spinoso, Chairman and CEO of SREG. “We see significant potential to further enhance and evolve SouthPark Mall, building upon its established success. We are committed to reinvesting and re-energizing the center to continue to serve the vibrant city of Strongsville as a core gathering place for the families and the community it serves.”
SREG will bring a proven track-record of repositioning and activating shopping centers across the USA, immediately planning to invest its experience and resources in maximizing SouthPark Mall’s potential to transform all facets of the mall and community.
“We’re excited to use SREG’s unique leasing and development focus to bring new and exciting offerings to SouthPark Mall,” added Carmen Spinoso, “we are committed to further evolve, redevelop and continue to establish SouthPark Mall as the premier shopping, dining, entertainment and gathering destination in the greater Cleveland area.”
With an industry-leading focus on tenant relations, SREG’s recognized proprietary Leasing+™ approach to doing business, and a strong leadership team, the company is anticipating to quickly implement, in conjunction with community stakeholders, a value-building strategy at SouthPark Mall.
“The timing could not have been more favorable,” continued Carmen Spinoso, “as retail quickly emerges post-pandemic, there’s a clear rebound to a new normal, and we’re seeing data showing that shoppers are eagerly returning to a physical retail experience, creating a new demand. With our strong industry ties and vast network of relationships, we’re confident that our team will not only make a big impact on SouthPark Mall, but the community as whole.”
SouthPark Mall is currently anchored by tenants including Dillard’s, JCPenney, Macy’s, Kohl’s, DICK’s Sporting Goods and Cinemark, and boasts a vibrant national and local tenant mix, and a strong, robust local market.
As owners, Kize and SREG will serve to handle SouthPark’s management, leasing, redevelopment, operations and marketing.
About Spinoso Real Estate Group
Spinoso Real Estate Group is a national real estate firm, specializing in enclosed shopping malls and large-scale retail properties. With a proven track record of 53 properties and 42.3 million square feet of enclosed-mall transformation, the firm offers a range of services including leasing, property management, repositioning, development, stabilization, and re-development. For more information, visit www.spinosoreg.com.
About Kize Capital
Kize Capital is an investment management company with a long-term, value-oriented investment philosophy. Kize’s flexible mandate allows it to invest in both public and private markets depending on where the most attractive opportunities arise. Kize was founded in 2019 by Dan Moss.
Director of Marketing & Brand Strategy