From Press Release:
Lexington, KY – The Webb Companies, the original developer and managing partner of Victorian Square Associates, LLC announced today that it has teamed with Jeffrey R. Anderson Real Estate, Inc. of Cincinnati, Ohio to re-acquire the Victorian Square project in downtown Lexington from Alex Campbell and Bill Young, Jr.
In confirming the transaction, Mr. Young observed that “It has now been almost 30 years since we teamed with the Webb’s and others to save this historic block. We felt it only fitting that we should see that it stays in the hands of folks who care about it as much we do.”
“Lexington should be forever grateful to the original investors who stepped up to help us save this significant downtown block when nobody else would,” said Dudley Webb, Chairman of The Webb Companies. He went on to add, “Now that the project is again due for re-invention, it will be important for the community to continue to cooperate with the new investors who are again stepping up to ensure that the project remains viable as well as complementary to all of the other wonderful things that are going on in the area.”
Webb said his organization went in search of the best team available to help engineer the re-invention. ”Everyone we talked to in the retail business kept recommending Cincinnati’s Jeffrey R. Anderson Real Estate, Inc. for that role. It became obvious to us that Jeff Anderson’s firm is truly the premier Midwest retail real estate firm and the absolute best that could help us to meet the unique challenges inherent in the project. We quickly found that they not only enjoyed a superb and ‘walk the talk’ track record with national tenants, but they were also willing to put their money in to help ensure the project’s success. Some examples of their most recent success stories include many of the new Retail Centers in Cincinnati, including The Banks mixed-use project that is just being finished on its Riverfront, Crestview Hills Town Center in Northern Kentucky, and The Summit in Louisville. The huge impact of these projects and the viability of their tenants speak volumes about this Company,” Webb said.