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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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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