RD Management Continues to Diversify Portfolio With Sale of Property in South Bend, Indiana
NEW YORK—March 23, 2017—RD Management LLC, one of the nation’s largest privately held real estate development and management organizations, has completed the sale of a former Sears Essentials building at 4640 South Michigan Street in South Bend, Indiana to a national retailer. This is RD Management’s second disposition this year as part of the company’s greater strategy to reposition its portfolio into a more diversified group of properties.
Located in St. Joseph’s County, the currently unoccupied freestanding building is situated on approximately 16 acres and has ample parking. Pylon signage makes the site visible to drivers on two main traffic corridors: US Highway 31 and North Ireland Road. A Ford dealership and Aldi supermarket are adjacent to the property, and the popular Erskine Commons and Erskine Plaza are nearby.
“At RD Management, we’re taking a critical look at the properties in our portfolio, especially those in secondary and tertiary markets, for possible disposition.” said Richard Birdoff, principal and president of RD Management. “Location and asset class are key for us. With the sales proceeds of this disposition and others, we will be investing in property types beyond our core retail assets located in more, densely-populated areas where we can deploy our more than 40 years of expertise and ultimately strengthen our real estate portfolio.”
RD Management owns four properties in Indiana and has more than 200 properties in its national portfolio. Indiana properties include Evansville Shopping Center in Evansville, The Marketplace at Warsaw in Warsaw, Pendleton Plaza in Indianapolis, and a freestanding Home Depot in Indianapolis.
About RD Management
Specializing in the retail sector for more than 40 years, RD Management owns and operates more than 18 million square feet of neighborhood and community shopping centers throughout the United States and Puerto Rico. With a portfolio of 200+ properties, spanning the retail, office, residential, mixed-use, hospitality, self-storage, and senior housing sectors, RD Management is consistently ranked among the nation’s largest, privately held, real-estate development and management organizations. RD Management maintains in-house expertise in leasing, property management, construction and development, accounting and finance, legal and information technology services. For more information visit www.rdmanagement.com.