United Properties Buys Two Retail Centers for $34.3M

United Properties Corp. has acquired two shopping centers in Iowa and Ohio, bringing its portfolio past 10 million square feet.

Updated on Nov. 2, 2026 in Commercial

Low beige strip retail building with large storefront windows across an empty parking lot under a clear sky. — United Properties Corp. of East Meadow, New York, bought Village Shopping Center in Davenport, Iowa, and Appleseed Center in Mansfield, Ohio, for a combined $34.3 million. AI Illustration. Upload story photo >

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United Properties Corp. acquired Village Shopping Center in Davenport, Iowa for $23.9 million and Appleseed Center in Mansfield, Ohio for $10.5 million, totaling $34.3 million. Together the two properties span 380,354 square feet, and the company's portfolio now exceeds 10 million square feet.

Why it matters

The purchases add stabilized, nationally tenanted retail space to the portfolio of a company that previously invested $48.2 million in four core centers across New York, Illinois and Virginia. For commercial real estate watchers, the deals show continued acquisition activity in grocery- and discount-anchored retail.

Village Shopping Center in Davenport, Iowa is 233,100 square feet and 91% occupied, anchored by Ross Dress for Less, Ollie's Bargain Outlet, Five Below and Pet Supplies Plus. Appleseed Center in Mansfield, Ohio spans 147,254 square feet, anchored by Ollie's Bargain Outlet, Ace Hardware and Dollar Tree and shadow-anchored by Kroger Marketplace.

The players

United Properties Corp.

A New York-based real estate company headquartered in East Meadow that owns and acquires retail properties across several states.

The details

United Properties Corp., headquartered in East Meadow, New York, completed both purchases as retail property acquisitions. The Village Shopping Center purchase was for a stabilized, nationally tenanted center on a retail corridor.

2026: United Properties Corp.'s acquisition activity continued with these purchases.
2026-11-02
The announcement of the two acquisitions was published.

Portfolio Expansion

The purchases extend United Properties Corp.'s earlier $48.2 million investment in four core centers across New York, Illinois and Virginia, following the same strategy of acquiring stabilized, nationally tenanted retail. The move pushes the company's total portfolio past 10 million square feet.

For local shoppers, the acquisitions mean the Village Shopping Center in Davenport and Appleseed Center in Mansfield remain operating retail destinations with existing tenants such as Ollie's Bargain Outlet, Ace Hardware and Kroger Marketplace. Investors and business owners considering retail space can use these transactions as reference points for what stabilized, anchored centers are trading for.

The takeaway

Stabilized, anchored retail centers continue to attract acquisition capital, and the sizes and occupancy figures in these deals offer a useful benchmark for comparable properties.