LOS ANGELES, Aug. 4, 2014 /PRNewswire/ — DealPoint Merrill closed escrow on Veterans Memorial Shopping Center, located in a residential, retail and business district of St. Charles, Missouri.
The property, a 123,141 SF shopping center previously anchored by Kmart with 15.9 acres of land, vacant building, retail and an established Chuck E. Cheese has been approved for redevelopment.
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. Mike Gustafson, President of Sperry Van Ness®/DealPoint Merrill Equities, an affiliate of DealPoint Merrill assisted with the investment capital. Mark Mimms of Sperry Van Ness/DealPoint Merrill Properties Corporation, and Paul Fusz of CBRE were the brokers. U.S. Title Guarantee Company handled the title and escrow for the transaction, and financing by Rodeo Capital.