DealPoint Merrill Closed Escrow on a 123,141 Sq. Ft. Shopping Center

St. Charles, MO, August 13, 2014 (Newswire.com) - LOS ANGELES, California – DealPoint Merrill, LLC recently closed escrow on Veterans Memorial Shopping Center, located in a residential, retail and business district of St. Charles, Missouri on August 4, 2014. This is the 4th property that DealPoint Merrill has closed in the second quarter of this year. The property, a 123,141 square foot shopping center was previously anchored by Kmart which includes 15.9 acres of land, the vacant Kmart building, additional retail pad space and an established Chuck E. Cheese family entertainment center. The property has been approved for redevelopment, retail leasing, and/or FOR SALE pad opportunities on the property.   

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.

Just Closed-vacant Kmart in St. Charles, Missouri has been approved for redevelopment

Danielle Watson, Director of Communications

About DealPoint Merrill

DealPoint Merrill, LLC is an owner and operator of “value added” real estate opportunities and a sponsor of real estate investment offerings. Based in Los Angeles, DealPoint Merrill, LLC is a strategic alliance partner with Sperry Van Ness® Real Estate for co-investment opportunities and development services nationwide.

For more information visit our website at DealPoint Merrill

Contact:

Danielle Watson
Director of Communications
DealPoint Merrill

Phone: 800-808-8559