LOS ANGELES--(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.
About DealPoint Merrill:
DealPoint Merrill, LLC is an owner and operator of value-added real estate opportunities and sponsor of real estate investment offerings. Based in Los Angeles, DealPoint Merrill is a strategic alliance partner with Sperry Van Ness Real Estate for co-investment opportunities and development services. For more information visit our website at: www.dealpointmerrill.com.