A shopping center just East of Louisville has sold to a local firm.
Doric Real Estate acquired Prospect Place, a retail center located at 9217 U.S. Highway 42 in Prospect, Kentucky. The center sold for $4.5 million, the deed shows.
“We are so happy to acquire Prospect Place,” said Michael Jones, owner of Doric Real Estate, in a news release. “It’s adjacent to another of our properties, Prospect Plaza, home to Starbucks, Highland Cleaners, and several other businesses. We look forward to providing the tenants currently in the Plaza the high level of attention and service Doric is known for.”
The release said the center was built in 1978 by longtime owner Dr. Phillip “Doc” Cochran. He and his three daughters have owned and managed the property for over two decades.
According to Jefferson County Property Valuation Administrator records, the nearly 2-acre property has two buildings: one totals 11,464 square feet, while the other is 7,727 square feet.
The release said the retail center is home to 11 local businesses, two of which are original tenants. Some of the tenants include Simon’s Prospect Apothecary, Prospect Animal Clinic and Mortenson Family Dental.
Doric Real Estate also owns Prospect Plaza, the retail center located next door to Prospect Place.
Steve Lennon of Horizon Commercial Realty represented Prospect Place in the transaction.
Founded in 2000 by Jones, Doric Real Estate specializes in retail environments located in Louisville’s East End neighborhoods. Its portfolio includes a variety of other Louisville properties, including 1401 Bardstown Road, 3700 Lexington Road and 9410 Brownsboro Road, its website shows.
Reporter – Louisville Business First