RICHMOND HEIGHTS, OHIO, USA, July 26, 2021 /EINPresswire.com/ -- Completing the 69-acre acquisition of the remaining mall site makes way for a $200 million construction project to begin on the Belle Oaks Marketplace mixed-use development. www.belleoaksmarketplace.com
DealPoint Merrill is pleased to announce the acquisition of the remainder of the former Richmond Town Square regional mall located at the northeast corner of Richmond and Wilson Mills Roads, Cleveland, Ohio. Built in 1966, it was once considered the largest enclosed shopping mall in Ohio with over 90 stores until its eventual closure in 2021.
This acquisition completes the purchase of the mall, south of the former Sears and Macy’s Department Stores, and extends the 33 acres owned by DealPoint Merrill to 69 acres. This acquisition clears the way for the development of Belle Oaks Marketplace – a $200 million mixed-use, multi-family development to be built on the site of the former mall.
The 160,000 square foot climate-controlled self-storage building operated by Life Storage at the Mall and owned by DealPoint Merrill will remain open during construction and will continue to serve as an additional amenity for the surrounding residents, as well, as the residents of the Belle Oaks luxury apartments when completed. Construction is expected to commence 1st quarter of 2022.