DealPoint Merrill Continues Its Redevelopment Plans in Richmond Heights, Ohio With the Acquisition of the Former Sears Department Store

LOS ANGELES, Oct. 9, 2018 /PRNewswire/ — DealPoint Merrill continues its redevelopment plans in Richmond Heights, Ohio, where it’s currently redeveloping the former Macy’s department store, by acquiring the former Sears department store located at the Richmond Town Square Mall.

The 248,000 SF Sears department store, vacant since March 2017, is among the two largest anchor stores that are being redeveloped by DealPoint Merrill. The 23 additional acres will be developed into a $70 million, 375-unit Class-A, luxury apartment and mixed-use retail consisting of a 98 key hotel and an 8,000 square foot restaurant. The new apartments will also have ground-level retail, a public park, plaza, and an annex area for additional recreational amenities.

According to DealPoint Merrill, the planned mix use redevelopment of both Sears and Macy’s with additional residential, retail and restaurants will further support Richmond Heights’ long-term growth. People want walkable, live-work, play districts with supporting amenities in urban environments. The new apartments create a win-win environment for the entire community.

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

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

LOS ANGELES–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.