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SHARP REALTY & MANAGEMENT ACQUIRES FORMER WAL-MART FOR REDEVELOPMENT

WASHINGTON, IND. — Birmingham, Ala.-based Sharp Realty & Management has acquired Cherry Tree Plaza, a 143,600-square-foot former Wal-Mart-anchored shopping center located in Washington. Sharp plans to redevelop the center to include a Peebles department store, Jay C Foods, and Orschlein Farm and Home Center. Jeff Werszner of Sharp provided in-house representation, and will be managing the redevelopment of the property. Cherry Tree Plaza was acquired from Michigan-based Malan WSC. The acquisition price was not disclosed.

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