Wesleyan Park Plaza, the first major commercial development for the late David Hocker and his family, is being tested on the market for potential sale after decades of family ownership.
The family has hired Marcus & Millichap, a national brokerage firm, to explore market interest. While a sale is not guaranteed, co-owner Talmage Hocker said they are open to offers if the price meets expectations.
“We’re certainly going to test the market and see what it has to say,” Hocker said. “If it’s a good price, we’ll probably transition out.”
Hocker said the roughly 200,000-square-foot shopping center on Frederica Street includes approximately 17 storefronts. He added that the brokerage’s Nashville office has already contacted several interested parties.
“The broker will call for offers, meaning those interested and approved will receive a deadline to submit bids,” Hocker said. “Typically, this process narrows down to three or four strong offers, and we’ll negotiate terms with each to determine the best deal.”
Wesleyan Park Plaza holds significant sentimental value for the Hocker family. Developed in 1964 by Talmage’s father, David, alongside his sisters Jane Anderson, Christie Hall, and Pat Riddle, it became the foundation for the family’s commercial real estate legacy.
“I was there for the groundbreaking in 1962 and the ribbon-cutting when it opened,” Hocker said. “This was the first shopping center our family was involved with, and it was a major development at the time. Before that, most shopping was limited to downtown Owensboro.”
Anchored by Kroger, SuperX, and Value Village when it first opened, the plaza expanded in the 1970s with a WT Grant store and S&H Green Stamps.
While Hocker acknowledges the emotional connection to the property, he believes a new owner could help it evolve.
“There’s a lot of opportunity for a new owner to come in, invest in upgrades, and bring in new tenants,” he said. “I suspect that’s what someone would do.”
The family credits Phil Purdom, Ted Belcher, and Scott Hornaday for their roles in managing and leasing the property effectively in recent years.
Current tenants at Wesleyan Park Plaza include a mix of retail, dining, and service businesses. The shopping center is anchored by Kroger and features restaurants including PanAsian Chinese-Japanese Restaurant, Ernesto’s Mexican Bar and Grill, and Niko’s Bakery & Cafe. Libertalia Coffee & Bagels also operates within the plaza.
Retail and specialty shops include The Earle, along with Shoe Stop, Bella Ragazza, and Regis Bridal and Prom. Other businesses include Julep Home and Gift, Pure Barre, Kidstop, Lance and Company, Sherwin Williams, and Headquarters Barber Shop. The center is also home to BridgePointe Church.
The potential sale represents a shift in the family’s long legacy of real estate development. David Hocker, who died in 2023, was a pioneering figure in Owensboro’s business community. Under his leadership, the family developed more than 40 shopping centers across 13 states, creating a national reputation in retail development.
“This was the first suburban shopping center in Owensboro,” Hocker said. “It changed how people shopped in this community, and we’re proud of what it has meant to the city.”
