DealPoint Merrill Announces the Acquisition of 162,190 Square Foot Macy’s Department Store in Richmond Town Square, Richmond Heights, Ohio

DealPoint Merrill Announces the Acquisition of 162,190 Square Foot Macy’s Department Store in Richmond Town Square, Richmond Heights, Ohio

LOS ANGELES, CA — January 18, 2018 / BUSINESS WIRE/ — DealPoint Merrill, LLC, an owner and operator of value-added real estate opportunities and sponsor of real estate investment offerings, acquired a 162,190 square foot former Macy’s building on 9-acres, located in the Richmond Town Square Mall in Richmond Heights, Ohio.

The Macy’s department store which has been vacant since 2015, presented an excellent opportunity for redevelopment under the CubeSmart self-storage national brand in addition to 30,000 square feet of additional retail space, with plans for two national restaurant brands for the 9-acre parcel.

“The Macy’s building is a notable addition to our climate-controlled self-storage portfolio and an excellent fit for our co-investment and redevelopment projects throughout the United States,” said David Frank, CEO of DealPoint Merrill.

The City’s Planning and Zoning Committee approved a use variance on November 7, 2017, after months of public meetings. David Frank, CEO and Sterling McGregor, President, appeared before the commission with DealPoint Merrill’s legal counsel, Mr. Kenneth Fisher, who handled the project’s zoning matters.

The redevelopment project will undertake major interior construction and beautification of the surrounding Mall property. The project is scheduled to begin in the second quarter of 2018.

DealPoint Merrill Closed Another Escrow in Ohio: the Giant Eagle Shopping Center in Cleveland

DealPoint Merrill Closed Another Escrow in Ohio: the Giant Eagle Shopping Center in Cleveland

LOS ANGELES, CA — May 31, 2018 / BUSINESS WIRE/ — DealPoint Merrill closed escrow on the 56,500-square-foot former Giant Eagle grocery store on 4.3 acres. The property is centrally located in the retail and business corridor of Cleveland, Ohio.

The redevelopment will focus on the renovation of the existing building structures, landscape and 10,500 square feet exterior drive and restaurant to be constructed on a pad. Redevelopment is scheduled for the 3Q of 2018.

DealPoint Merrill is currently redeveloping the vacant Macy’s department store in Richmond Heights, Ohio, which closed in Q1 of this year.

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence for the sale. Jason Limbert of DealPoint Merrill completed the acquisition.

DealPoint Merrill Secures Bridge Financing for Redevelopment in Five States

DealPoint Merrill Secures Bridge Financing for Redevelopment in Five States

LOS ANGELES, CA — June 19, 2018 / PRNewswire / — DealPoint Merrill has secured bridge financing for the redevelopment phase of projects in Benbrook, Texas, Columbus, Ohio, St. Charles, Missouri, Chandler, Arizona and Saginaw, Michigan. Collectively the five properties represent nearly 600,000 square feet. After the construction phase was completed and lease up was underway, DealPoint Merrill secured long-term financing for final stabilization.

DealPoint Merrill worked with Cronheim Mortgage to secure approximately $27,000,000 of financing across the five properties.

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence for the sale. The acquisition was completed by Jason Limbert of DealPoint Merrill.

DealPoint Merrill and SVN International closed on Gateway Promenade, a 110,000 square foot shopping center in Hammond, Indiana

DealPoint Merrill and SVN International closed on Gateway Promenade, a 110,000 square foot shopping center in Hammond, Indiana

Los Angeles, CA – December 27, 2016 – DealPoint Merrill and SVN International closed the 110,000 square foot Gateway Promenade shopping center, centrally located in the retail and business corridor of Hammond, Indiana anchored by Aldi’s Grocery store and Planet Fitness.

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence for the sale. The acquisition was completed by Jason Limbert and Andro Torres of DealPoint Merrill.  The property was represented by Wayne Caplan, Senior Vice President of SVN Chicago Commercial. The Seller was Sabal Financial.

DealPoint Merrill Closed Escrow on a 57,200 Retail Center for Redevelopment in Chandler, Arizona

DealPoint Merrill Closes Escrow on a 57,200 Square Foot Chandler Commons Retail Center for Redevelopment in Chandler, Arizona

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, Chief Investment Officer, handled the due diligence for the purchase and financing. The acquisition was completed by Jason Limbert of DealPoint Merrill.

DealPoint Merrill Closed Escrow on a 66,000 S.F. Commercial Building for Redevelopment in Modesto, California

DealPoint Merrill Closes Escrow on a 66,000 Square Foot Commercial Building in the heart of the Downtown Retail District for Redevelopment in Modesto, California

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, Chief Investment Officer, handled the due diligence for the purchase and financing. The acquisition was completed by Jason Limbert of DealPoint Merrill.

DealPoint Merrill Closes on 179,721 square foot Commercial Building for Redevelopment in Olathe, Kansas

DealPoint Merrill Closes on 179,721 square foot Commercial Building for Redevelopment in Olathe, Kansas

Los Angeles, CA – October 20, 2016 – DealPoint Merrill acquired the 179,721 square foot former Sadler’s Go-Karts commercial building, centrally located in the business and retail district of Olathe, Kansas.

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, Chief Investment Officer, handled the due diligence for the sale. The acquisition was completed by Jason Limbert of DealPoint Merrill.

DealPoint Merrill Closed Escrow on a 65,658 S.F. Shaw’s Grocery for Redevelopment in New Britain, Connecticut

DealPoint Merrill Closes Escrow on a 65,658 Square Foot Shaw’s Grocery Redevelopment and a Construction Loan for its former Wal-Mart Redevelopment Project

LOS ANGELES, August, 2015—DealPoint Merrill recently closed escrow on a 65,658 square foot Shaw’s grocery retail center for redevelopment in New Britain, Connecticut, and a $4.5 million construction loan for the Joliet, Illinois Shopping Center.

DealPoint Merrill’s executives, David Frank, CEO, negotiated both transactions, and Sterling McGregor, Chief Investment Officer, handled the due diligence for the purchase and financing. The acquisition was completed by Jason Limbert of DealPoint Merrill.

 

DealPoint Merrill Closed Escrow on 67,000 S.F. Albertson’s Shopping Center for Redevelopment in Benbrook (Dallas), Texas

Los Angeles, CA – June 16, 2015 – DealPoint Merrill acquired the 67,000 square foot Albertson’s Shopping Center adjacent to Super Walmart, and located in a major retail corridor of Benbrook, a suburb of Dallas, Texas. DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, Chief Investment Officer, handled the due diligence for the sale.

SVNIC and DealPoint Merrill Join Forces to Create National Co-investment Platform

May 19, Los Angeles, CA and Boston, MA – Sperry Van Ness International Corporation (SVNIC), one of the most innovative commercial brokerage firms in North America, with approximately $9.1 billion in annual sales volumes and 190 national sales offices, announces the formation of an internal private equity firm with DealPoint Merrill. The new partnership, which will operate under the name of SVN DealPoint Merrill Realty Partners was conceived to capitalize on SVNIC’s access to investment opportunities, which will then be matched by DealPoint Merrill’s development experience.Kevin Maggiacomo, President and CEO of SVNIC, explains that “the collective goal of the new partnership is to build preeminent investor value by acquiring co-investment assets which are fundamentally sound, but undervalued.” Kevin continues to point out, that “our investment objective is to acquire turn around assets capable of quickly generating superior cash on cash returns, coupled with the assurance that profits can be reinvested upon disposition to mitigate taxation.” Mr. Maggiacomo continues by saying, “we are fortunate to partner with gifted professionals who bring a vast amount of experience and good judgment.”David Frank, the Chief Executive Officer of DealPoint Merrill, echoes Mr. Maggiacomo’s thoughts by saying “as co-investors in our transactions, our first priority is capital preservation. We seek to acquire assets at deeply discounted prices; thereby creating an immediate margin of safety for investors.” He continues by saying “On a risk-adjusted basis, we prefer apartments, multi-tenant retail, self-storage and medical properties. The new partnership will secure multiple rounds of real estate equity investment with the first tranche of approximately $100 million in the first year to acquire properties in the name of the partnership.”

About Sperry Van Ness International Corporation

Sperry Van Ness International Corporation (SVNIC), a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry’s most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations in 500 markets, Sperry Van Ness® Commercial Real Estate Advisors provide sales, leasing, and property management services to more than 5,550 clients worldwide. SVN® Advisors also represent clients in auction services, charter schools, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, single tenant investments. All Sperry Van Ness offices are independently owned and operated. For more information, visit http://www.svn.com.

For more information, contact:
David Frank, Esq.
310-671-3900
dfrank@dealpointmerrill.com
www.dealpointmerrill.com