shopping

DealPoint Merrill Announces the Acquisition of a Kroger Shopping Center, a 69,275 Square Foot Building on 7 Acres in Sterling Heights, Michigan

WOODLAND HILLS, Calif., Oct. 13, 2020 /PRNewswire/ — DealPoint Merrill, LLC, an owner and operator of value-added real estate opportunities and sponsor of real estate investment offerings, acquired a 69,275 square foot former Kroger Shopping Center on 7 acres located in the retail corridor of Sterling Heights, Michigan.

The property is in a growing community on the corner of Dequindre Rd. and 18 Mile Rd. with excellent visibility and adjacent to major national retail chains, with co-anchors McDonald’s and Mobile gas station and across the street from the newly relocated Super Kroger grocery. DealPoint Merrill plans to redevelop the property into a new 138,000 square-foot development. 

DealPoint Merrill’s executives, David Frank, CEO, negotiated the transaction, and Sterling McGregor, President, handled the due diligence and financing of the purchase.  Jason Limbert, Director of acquisitions, and Tyler Bendicksen, head of investment underwriting, participated in the DealPoint’

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fashion

Westfield Sues To Reopen Fashion Square In Sherman Oaks

LOS ANGELES, CA — The pushback against Los Angeles County’s coronavirus shutdown orders intensified this week with a lawsuit filed by the region’s largest indoor-mall operator, seeking to reopen its doors.

Westfield — which operates indoor malls in Topanga, Culver City, Sherman Oaks, Valencia and Santa Anita — sued the county Monday, calling its mall closures “unjustifiable.” If Westfield gets its way, the Westfield Fashion Square could soon reopen.

According to the lawsuit, malls are safer than other retailers and there is “absolutely no public health justification” for their forced closure. Since the reopening in the summer and shutting down again amid a surge in new cases, county health officials have taken a slower approach to reopening than neighboring counties. Pressure to speed up the reopening process has been mounting for weeks. Monday’s lawsuit follows a proposed federal class-action suit brought by a group of business owners fighting the closure

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