Gulfstream Commercial Services announced Monday that Town Square Mall is once again locally owned and operated. A group of local investors, TSM Holdings LLC, closed on the transaction and have officially taken over operations of Owensboro’s largest retail facility.
Gulfstream Commercial Services, LLC is a full-service commercial real estate brokerage company with headquarters in Louisville and Owensboro. Gulfstream brokered the deal for TSM Holdings.
Gulfstream Commercial Services and the investment group (TSM Holdings LLC) are involved with several development projects in the greater Owensboro area. Their work and investment into the revitalization of downtown, the creation and marketing of Gateway Commons and Highland Pointe developments along KY 54 on Owensboro’s east side and the acquisition of the mall site containing more than 350,000 square feet of leasable area under one roof located on a 35-acre site demonstrates their commitment to the community.
TSM Holdings, LLC and their broker, Gulfstream Commercial Services, Owensboro will kick off a marketing campaign to recruit and retain quality tenants for the venue.
According to a press release from Cheif Operating Officer Ed Ray, “We recognize the challenges involved with owning a mall in the era of online commerce, it’s a tough business that requires local support to thrive; this is why this group felt so strongly about bringing back local influence on how the mall can and will reinvent itself to meet the needs and expectations of its patrons and provide a catalyst for continued growth of South Frederica’s business corridor.”
You will soon see marketing materials asking the public for its ideas on what should go into the mall which we look forward to input from prospective patrons.
“To make Owensboro’s mall successful, it needs synergies achieved by having the right tenant mix and by becoming locally relevant again to shop, eat, work, and visit.”