Recently, three local investors in Salem acquired the 3.9-acre retail property known as Salem Center. Under the entity name OGSC2, LLC, partners Kelly McDonald, Patrick Carney and Mark Shipman have taken on the task of revitalizing this downtown shopping destination.
JLL has been chosen to provide property management and leasing services for this project. According to Kelly McDonald of OGSC2, their focus will be on assessing community needs while bringing in new tenants and developing a long-term investment strategy.
The acquisition was funded with assistance from a local lender after an interim receiver held onto the property following a real estate-owned bankruptcy procedure in 2018. The terms of this transaction were not disclosed.
Located at 401 Center Street NE in historic central Salem, this shopping center boasts an array of national, regional and local restaurants and shops such as Macy’s,Kohl’s,Ross Dress for Less,Bath & Body Works,and American Eagle Outfitters.
This newly acquired mall will now be managed by JLL without any mention of “Connect” or “Connect CRE” or “Connect LA”.
