New ownership takes over Piqua’s Miami Valley Center Mall

PIQUA — A change is coming to Piqua with the sale of the Miami Valley Center Mall.

The Miami Valley Center Mall went under new ownership this week when it was acquired by a partnership between RCS Construction, an Ohio-based ESOP company that specializes in construction and real estate development, and Caspian Group, a Minnesota-based real estate investment company.

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The new ownership said they plan to rebrand the mall as “The Piqua Center.”

The mall, which was built in 1988, has struggled with the emergence of e-commerce in the last two decades, according to a release sent Friday morning.

The new owners plan to revitalized the property, repair and replace all the deferred maintenance and making the units affordable and accessible to the community. Their goal is to bring the community together and build a center for entertainment sports and e-commerce.

“One of the first great opportunities for The Piqua Center could be to reinvigorate the food court using successful concepts like 2nd Street Market in Dayton and Budd Dairy Food Hall in Columbus,” James Edmonds, VP of Business Development at RCS Construction, said.

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Chris Schmiesing, City of Piqua Community and Economic Development Director, said he is excited for the new ownership’s “forward-thinking approach and desire to collaborate with the community.”

“We are looking forward to working with them to support the property being restored to an attractive destination and a community asset,” Schmiesing said.

The new owners will be hosting an open house in partnership with the Piqua Area Chamber of Commerce at a later date.

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