Two Northern Kentucky shopping destinations have a new owner.
BC Wood Properties, a Lexington-based commercial real estate developer, announced Monday it purchased Newport Shopping Center and Newport Plaza. Both strip malls are located adjacent to one another at Monmouth Street and Carothers Road.
The properties sold for a total of $54.6 million. They house a variety of chain and locally owned businesses.
The 267,665 square-foot Newport Shopping Center is home to Crunch Fitness, Newport Racing & Gaming, Cricket Wireless, Family Dollar, Dollar General, H&R Block and GNC. Tenants for Newport Plaza, which is 161,734 square feet, include Fresh Thyme, Ace Hardware, Dollar Tree and Planet Fitness.
BC Wood specializes in retail development. It owns 23 properties in Kentucky, Indiana, Michigan, North Carolina, Virginia and Tennessee.