Business: Hull Property Group, owners of Mount Berry Mall, now advertising Toys R Us site for lease. The latest updates. Plus: River City Bank declares first dividend, nickel a share.

Business: Hull Property Group, owners of Mount Berry Mall, now advertising Toys R Us site for lease. The latest updates. Plus: River City Bank declares first dividend, nickel a share.

The Hull Property Group leasing sign is now up at the former Toys R Us. Hometown photo from Dec. 2, 5:30 p.m.

 

With Spirit Halloween’s second edition of a pop-up store now out of the former Toys R Us location at 2780 Martha Berry Highway, a new marketing push is beginning for the most visible outparcel on the Mount Berry Mall footprint.

Advertising the site for lease is Hull Property Group, the latest spin on the company that purchased the nearly 478,000-square-foot mall in September 2012 for $6 million. Since then, the mall has seen some arrivals (Dunham’s) and some exits (Sears) with plans announced to rip down the Sears’ wing in favor of a road connecting to the Rome Tennis Center at Berry College. The city of Rome also has agreed to create a Tax Allocation District for the mall and surrounding property as Hull has talked of redevelopment plans. (See Hometown Analysis from two years ago, December 2017).

Hometown photo from Dec. 2.

The area has gone through a development spurt of its own with the arrival of RaceTrac, Goo-Goo Express car wash, a new home for DiPrima’s Shoes and West Express Rome moving to the former kids play center that last served as a sports bar.

The latest player now is a proposed hotel from Berry College adjacent to the tennis center off Armuchee Connector.

So now comes the fate of the Toys R Us site. In October, TSCG had listed the site up for auction, welcoming bids starting at $200,000. The latest tax assessment is $1.25 million, according to the tax collector’s office. The last listed owner, TRU 2005 RE I LLC, owes $18,602 in 2019 taxes.

According to the former listing on LoopNet, the outparcel at 2780 Martha Berry Highway includes 22,514 square feet and was built in 1995. What to know: “… the property consists of a single-story, freestanding building situated on a ±2.9-Acre outparcel of Mount Berry Square Mall. Formerly occupied by Toys ‘R Us, it features ample parking with highly visible signage, ±140’ of frontage, and ample parking with ±113 spaces. The site is ideally-located near Richard B. Russell Airport and Berry College. which enrolls over 2,000 students. Major neighboring retailers include Belk, JC Penney, Dollar Tree and Rue21.”

We have notes into the contacts listed for the auction as well as to Hull Property for updates.

One factor to keep in mind: The mall area is in competition for what Ledbetter Properties is doing with the former Kmart site off Turner McCall and Hicks Drive. The plans for East Bend: 20 to 28 retailers and restaurants with a handful of confirmations already in hand. An opening date of October 2020 remains on the board.


River City Bank Financial Corp. and its subsidiary, River City Bank, announce that its Board of Directors has declared its first dividend in company history in the amount of 5 cents per share. The dividend is payable on Dec. 30 to common shareholders of record as of Oct. 8. River City is a locally owned, full-service community bank founded in 2006. River City had deposits of $138.4 million as of June 30 of this year, according to the Federal Deposit Insurance Corp.

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