property details

DPM Belle Oaks Marketplace Fund 3 LLC

Total SF 193,280
691 Richmond Road, Richmond Heights, OH, USA
property details

DPM Belle Oaks Marketplace Fund 3 LLC

Total SF 193,280
691 Richmond Road, Richmond Heights, OH, USA
The Redevelopment of the former 70-acre Richmond Town Square Regional Mall, Richmond Heights, Ohio (Cleveland MSA) into a 1.7 million square foot mixed-use, live-work-play urban campus community presented by DealPoint Merrill, LLC (Sponsor) Construction to commence 2nd Quarter, 2023.  The project is comprised of a 798 luxury one and two-bedroom luxury apartments, 159,000 square-foot Meijer Grocery Supercenter, and 120,725 square feet of restaurants and daily-needs retail. 

The project is being developed in "three phases" which is further described in more detail.

For more information please visit https://belleoaksmarketplace.com

Phase 3:  Phase 3 is part of Belle Oaks Marketplace, a master planned, mixed-use development consisting of 27.4 acre development that includes a 159,000 square feet Meijer Supercenter Grocery Store with a long term ground lease.  Additionally, Phase 3 has 7 outparcels for stand-alone restaurant and retail buildings. According to Meijer, the Meijer Supercenter grocery store is expected to have approximately two million customer visits per year. As part of the master planned development Life Storage (Not a Part) is operating a 160,000 square feet class A climate controlled self-storage on approximately 2.3 acres. Phase 3 construction is expected to start in the 1st quarter 2023. The Meijer Superstore lease should be executed in the second quarter 2023. 

Phase 3 - 27.4 acres 
.      Total Retail Square footage:  193,280 sf 
·      Meijers:  159,000 sf 
·      Firestone:  11,240 sf 
·      Outlot Building 15:  1,840 sf 
·      Outlot Building 16:  2,420 sf 
·      Outlot Building 17:  4,600 sf 
·      Outlot Building 18:  4,600 sf 
·      Outlot Building 19:  4,980 sf 
·      Outlot Building 20:  4,600 sf 

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Property Snapshot
Phase 3:  Phase 3 is part of Belle Oaks Marketplace, a master planned, mixed-use development consisting of 27.4 acre development that includes a 159,000 square feet Meijer Supercenter Grocery Store with a long term ground lease.  Additionally, Phase 3 has 7 outparcels for stand-alone restaurant and retail buildings. According to Meijer, the Meijer Supercenter grocery store is expected to have approximately two million customer visits per year. As part of the master planned development Life Storage (Not a Part) is operating a 160,000 square feet class A climate controlled self-storage on approximately 2.3 acres. Phase 3 construction is expected to start in the 1st quarter 2023. The Meijer Superstore lease should be executed in the second quarter 2023. 

Phase 3 - 27.4 acres 
.      Total Retail Square footage:  193,280 sf 
·      Meijers:  159,000 sf 
·      Firestone:  11,240 sf 
·      Outlot Building 15:  1,840 sf 
·      Outlot Building 16:  2,420 sf 
·      Outlot Building 17:  4,600 sf 
·      Outlot Building 18:  4,600 sf 
·      Outlot Building 19:  4,980 sf 
·      Outlot Building 20:  4,600 sf 
property DOCUMENTS

DPM Belle Oaks Marketplace Fund 3 LLC
Site Location & Documents

Property Photo 1
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Offering Disclosure

The contents of this communication: (i) do not constitute an offer of securities or a solicitation of an offer to buy securities, (ii) offers can be made only by the confidential Private Placement Memorandum (the “PPM”) which is available upon request, (iii) do not and cannot replace the PPM and is qualified in its entirety by the PPM, and (iv) may not be relied upon in making an investment decision related to any investment offering by an issuer, or any affiliate, or partner thereof ("Issuer"). All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM. With respect to any “targeted” goals and performance levels outlined herein, these do not constitute a promise of performance, nor is there any assurance that the investment objectives of any program will be attained. All investments carry the risk of loss of some or all of the principal invested. These “targeted” factors are based upon reasonable assumptions more fully outlined in the Offering Documents/ PPM for the respective offering. Consult the PPM for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to any investment. These investment opportunities have not been registered under the Securities Act of 1933 and are being offered pursuant to an exemption therefrom and from applicable state securities laws. All offerings are intended only for accredited investors unless otherwise specified. Past performance are no guarantee of future results. All information is subject to change. You should always consult a tax professional prior to investing. Investment offerings and investment decisions may only be made on the basis of a confidential private placement memorandum issued by Issuer, or one of its partner/issuers. Issuer does not warrant the accuracy or completeness of the information contained herein. Thank you for your cooperation.

Securities offered through Emerson Equity LLC Member: FINRA/SIPC. Only available in states where Emerson Equity LLC is registered. Emerson Equity LLC is not affiliated with any other entities identified in this communication.

1031 Risk Disclosure:

  • There is no guarantee that any strategy will be successful or achieve investment objectives;
  • Potential for property value loss – All real estate investments have the potential to lose value during the life of the investments;
  • Change of tax status – The income stream and depreciation schedule for any investment property may affect the property owner’s income bracket and/or tax status. An unfavorable tax ruling may cancel deferral of capital gains and result in immediate tax liabilities;
  • Potential for foreclosure – All financed real estate investments have potential for foreclosure;
  • Illiquidity – Because 1031 exchanges are commonly offered through private placement offerings and are illiquid securities. There is no secondary market for these investments.
  • Reduction or Elimination of Monthly Cash Flow Distributions – Like any investment in real estate, if a property unexpectedly loses tenants or sustains substantial damage, there is potential for suspension of cash flow distributions;
  • Impact of fees/expenses – Costs associated with the transaction may impact investors’ returns and may outweigh the tax benefits

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