Evansville-based Regency Properties has announced the $4 million acquisition of Knox Village Square in Mount Vernon, Ohio. The commercial real estate company says it plans to pump an additional $1.2 million into renovations of the center.
Regency says the renovations will include updates to the facility’s façade, parking lot, roof and pylon sign. The more than 200,000 square-foot Knox Village Square includes major tenants such as JC Penney and Peebles.
"Mount Vernon’s active economy makes it an ideal location for acquisition," said Jeff Howell, vice president of acquisitions and business management. "Regency is excited to begin renovations and leverage our expertise working in county seat communities to bring new, nationally-recognized retailers to shoppers in Mount Vernon."
Regency says the exterior upgrades are expected to be complete by the end of the year.