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DealPoint Merrill Plans $200M Cleveland-Area MXU at Former Regional Mall
DealPoint Merrill has acquired the remainder of the former Richmond Town Square regional mall in Richmond Heights, OH, a Cleveland suburb. Terms of the acquisition weren’t disclosed.
Built-in 1966, Richmond Town Square was once considered the largest enclosed shopping mall in Ohio. It closed earlier this year.
The acquisition brings DealPoint Merrill’s ownership at the property from 33 acres to the full 69 acres. It clears the way for the development of Belle Oaks Marketplace, a $200-million mixed-use, multifamily development to be built on the site of the former mall.
The project is expected to include 1,617,800 square feet of restaurants, retail and grocery, including an existing 20-screen Regal Cinemas complex, along with 791 apartments. Construction on Belle Oaks Marketplace is expected to commence in the first quarter of 2022.
- ◦Sale/Acquisition
- ◦Development

