Vicksburg Commons sold at auction to Texas-based investment group
Published 9:14 pm Wednesday, November 9, 2022
Vicksburg Commons has a new owner.
TCP Realty Services, LLC has officially purchased the more than 96,000-square-foot building at 4000 South Frontage Road and its nine acres of land.
On Sept. 27, the former Vicksburg Commons owner, Blue Ridge Capital, an Atlanta-based company, put the property up for auction.
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Vice President of Leasing and Property Management for Blue Ridge Capital Steve Patrick said in an earlier interview that the decision to sell the Vicksburg property had been “tough,” but for the company, it was the right decision at the time.
Based in Houston, Texas, TCP Realty Services, LLC is a property management and real estate investment group that operates throughout Texas and the Southwest United States with more than 14 shopping center properties.
“We are very excited to have TCP come to Vicksburg. We are always welcoming outside investors, and we are glad they chose Vicksburg and I look forward to working with them,” Vicksburg resident Mary Jane Fant said.
Fant is the owner of Curb Appeals Real Estate in Vicksburg and is the daughter of the late Margaret Gilmer, founding developer of the Vicksburg Factory Outlets, now known as Vicksburg Commons.
Unlike Blue Ridge Capital, which purchased the Vicksburg Commons with the intent to sell once it had leased most or all of the available space, Fant said, TCP’s intent is to hold the property “long-term” and it currently has no intentions to rename the center.
From conversations with TCP representatives, who were in Vicksburg on Monday, Fant said the group plans to keep the current tenants that are leasing space and will be looking for national tenants as well.
“It will be a good mix of national and local tenants,” Fant said.
The sale of the Vicksburg Commons did not include the Gap building and the parcel of land that contains the land next to the Cracker Barrel. This property is owned by a partnership created by Gilmer.
However, Mary Jane Fant, Gilmer’s daughter, said negotiations for the property with TCP are ongoing.
Fant will be working as TCP’s leasing manager, she said.