Tuesday, March 13, 2018

White Castle on Monmouth Street in Newport to Close Permanently

A longtime Newport staple on Monmouth Street is closing.

White Castle, located at 1811 Monmouth Street, will shut its doors permanently on March 24, a source within the company has told Fort Thomas Matters.

They did not give a reason for the closure, but did say that employees will be able to transfer to other White Castle locations, including the store on 5th Street, which is less than two miles away.

According to the Campbell County PVA, the owner of the building is Ingram Family Limited Partners, based out of Columbus, Ohio.

White Castle was founded in 1921 by the late E.W. "Billy" Ingram and Walt Anderson, who sold his interest to Ingram a few years later. Ingram's grandson E.W. "Bill" Ingram III is now chairman, CEO and president.

Twelve Ingram family members are involved in White Castle operations today.

They bought the building from American Diversified Investment, Inc. who has recently been involved in the management of the Newport Shopping Center. The PVA lists the sale price in 2010 at $350,000 and is being assessed at $450,000.

Recently, the Newport Shopping Center and Plaza was sold to Albanese Cormier Holdings, based out of Texas.

Newport Plaza at 82 Carothers Road is 161,734 square feet of retail, anchored by Fresh Thyme, Planet Fitness, Dollar Tree, and Verizon Wireless. Newport Shopping Center is 264,196 square feet of retail at 1727 Monmouth Street with offerings like ACE Hardware, Aaron's, Defender Direct, Dollar General, Family Dollar, and Taco Bell.

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Albanese Cormier Holdings (ACH) also owns Alexandria Village Green.

“We’re excited to start 2018 off by adding two strong centers to our portfolio," said Brandi Norwood, director of leasing at ACH said. "Newport presented an opportunity to strengthen our presence in the Northern Kentucky Market by adding these two properties to our strong performing center in Alexandria, just 15 minutes away.”

1 comment:

  1. I just wonder if something is up. Bob Evans closes, ACH buys Newport Shopping Center and Plaza and now White Castle closes. More dominoes later?