Towne Square North has been sold

·3 min read

Jan. 29—Real estate transfers show that Towne Square North has been sold to 4610 Frederica Street LLC — Craig Harrison — for $12.55 million.

The shopping center was assessed at $8.5 million last year.

—Something might be happening at the old Golden Corral location, 4500 Frederica St.

TheShoppingCenterGroup.com's website shows that the building, which has been empty since the coronavirus pandemic began, is currently under contract.

—Envision Contractors picked up a building permit for the new Big Rivers Electric Corp. headquarters at 710 W. Second St.

Construction cost of the 48,134-square-foot building is listed at $7.555 million.

—Envision also picked up a building permit for an 8,606-square-foot building shell for retail use in Gateway Commons.

The cost was pegged at $582,000.

—Unemployment was down from a year earlier in all but one Kentucky county in December.

The state report showed Daviess had 3% unemployment that month, up from 2.7% in November and down from 5.4% a year earlier.

Hancock's rate was 3.1%, up from 2.8% a month earlier, but down from 5.3% in December 2020.

McLean saw its rate rise to 3.7% in December, up from 2.8% in November, but down from 4.9% a year earlier.

Muhlenberg's rate was 5%, up from 3.5%, but down from 7.5% in December 2020.

And Ohio was at 4.1%, up from 3.5% in November, but down from 6.2% from a year earlier.

Woodford had the state's lowest rate at 2.3% and Magoffin again had

the highest rate at 10.3%.

—AAA says the average price of unleaded self-serve gas in Owensboro was $2.899 this week.

The report said, "Despite typical low seasonal demand for gasoline, pump prices are clawing their way higher. The national average for a gallon of gas is $3.33, two cents more than a week ago. The culprit is the rising price for oil, which is now around $85 per barrel, nearly $20 more than in November."

—Chain Store Age says that "brick-and-mortar retail is alive and well."

The report says the amount of leasable retail space in the country fell by 59% in the fourth quarter of 2021, with more demand for retail space.

The story quoted Bill Wright, senior managing director and retail leader for CBRE, saying, "The retail recovery is in full swing. We are seeing strong demand coupled with scant new supply, which has brought a real balance back to the market. All signs point to activity remaining very strong in 2022, as many retailers look to capitalize on the market to address increased consumer demand for physical retail."

—Academy Sports and Outdoors says it plans to open at least eight stores this year, including one in Lexington.

The company said it also plans stores for the first time in Virginia and West Virginia.

The new openings will increase the store count to 267 locations.

270-691-7301 klawrence@messenger-inquirer.com