Walmart at Summit Square in Calcutta Sells for $7M

Updated May 7: Only the Walmart property at Summit Square was sold, not the entire plaza
CALCUTTA, Ohio – One of the country’s largest shopping center owners has purchased the Walmart at Summit Square in Calcutta for $7 million.

Kamin Realty Co., based in Pittsburgh, bought the property at 16280 Dresden Ave. April 12, according to the Columbiana County Auditor. The Walmart is just off U.S Route 11 and U.S. Route 30.

The property had been owned by Auction Properties Inc. since 1993. In 1998, Auction Properties combined its parcel with an adjacent property. According to the creation documents on file with the Ohio Secretary of State, Auction Properties was created “to own, operate, lease, manage and maintain a commercial building at the Summit Square Mall [in] Calcutta.”

Founded in 1916, Kamin Realty is the 38th-largest shopping center and net lease retail property owner in the country, according to its website. It has more than 400 properties in 44 states and Puerto Rico, with a gross leasable area of more than 15 million square feet.

The Walmart property is the company’s only current property in the area, according to its 2020 portfolio document. 

Image via Tolson Enterprises

Copyright 2021 The Business Journal, Youngstown, Ohio.