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First Allied Corporation even worse than I suspected

First Allied Corporation even worse than I suspected

"Crosswoods strip center in foreclosure

A strip center in the Crosswoods complex in north Columbus has gone into foreclosure.

Charlotte, N.C.-based Bank of America Corp. on Thursday filed to foreclose on the 20,000-square-foot center at 110-158 Hutchinson Ave. Next to the Marcus Corp. movie theater at Crosswoods, the strip is home to a mix of restaurants.

Bank of America filed the suit in U.S. District Court in Columbus against Crosswoods Commons Shopping Center Columbus Ohio LP, a partnership that includes Rochester, N.Y.-based First Allied Corp. According to First Allied�s Web site, the real estate firm owns and leases more than 6.7 million square feet of retail space in 20 states. The Crosswoods center was First Allied�s first acquisition in Ohio, and the company said it considered it a good deal because it included tenants such as BW-3, Chipotle, Stauf�s Coffee and Panera Bread.

Today, the center is occupied by Jed�s BBQ & Brew, SushiKo, Lotus Grill and Chipotle. Two spots in the center are empty.

Alan Bobrowski, First Allied�s general manager, declined to comment on the foreclosure."

Posted by Unknown at 8:43 PM

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