The company that owns the Dayton Mall, which has purchased the attached vacant Elder-Beerman store, plans to invest in the redevelopment of the space.

The Dayton Daily News first reported last week that Washington Prime Group purchased the 220,000-square-foot space from Elder Ohio, a trust registered in Delaware. The $3.6 million deal included 15 acres, according to Montgomery County records.

The Miami Twp. location has been vacant since Elder-Beerman closed and went out of business in August 2018. When malls dont have control of anchor real estate, it can hold up redevelopment. Washington Prime Group in the past has said it couldnt fill the space, along with the vacant Sears store, because the company did not own either.

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Theres plans in the works, the malls general manager Dave Duebber said last week. This has been a long process so were excited.

Now that the big-box store is controlled by mall leaders, Washington Prime Group plans to leverage exciting redevelopment opportunities, according to a statement released Monday.

Washington Prime Group is currently in planning and negotiations with several local stakeholders, including Miami Township and existing and prospective tenants and partners, the statement said.

The Dayton Mall has had luck finding tenants to fill large vacant spaces in recent years. A Ross Dress For Less recently opened in the former hhgregg space and The Room Place will open in the upcoming months in a new in-line space created in the former Old Navy store.

A transformation is underway to strengthen Dayton Mall as the hub of retail, dining and entertainment in the area. With plans to invest millions of dollars into the town center over the next several years, the long term vision for Dayton Mall is reflective of the community, Washington Prime Group said in the statement.

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Redevelopment of the Dayton Mall area began about four years ago when Miami Twp. began developing a master plan of the area. The plan adopted in 2018 calls for more than $200 million in investments.

We saw the need early on to transform the area into a multi-use, walkable development, and the master plan has served as the facilitator bringing us to where we are today, said Chris Snyder, director of community development for Miami Twp.

Seritage Growth Properties still owns the Sears box at the Dayton Mall, but Washington Prime Group is working closely with the company and Miami Twp. to redevelop the space.

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Dayton Mall owners to invest in redevelopment of former Elder-Beerman - Dayton Daily News