DealPoint Merrill Targets Redevelopment Properties

LOS ANGELES—DealPoint Merrill has purchased three redevelopment properties throughout the country totaling 325,500 square feet. Two of the properties, located in Ohio and Michigan, are shopping centers, and the third is a self-storage facility located in Arizona.

Located in Columbus, Ohio, the first shopping center, National Road Plaza, is 120,700 square feet, while the second center, Bay View Plaza in Saginaw, Michigan, rings in at 151,396 square feet. “The two properties have excess land area which will be developed into street front retail pads which will be either sold or leased, and using a vacant anchor store which has the square footage for our self-storage facility and adjoining retail will enable us to redevelop the property rather than to build from scratch, thus saving us money,” Danielle Watson, DealPoint communications director, tells GlobeSt.com. “The other property in Arizona is already a self-storage facility which will be redeveloped into a larger facility with retail.”