Chicago & Midwest + Midwest + Retail | February 19, 2020

Staenberg Group Completes Buy of Chesterfield Mall

The Staenberg Group (TSG), headquartered in St. Louis, completed the purchase of Chesterfield Mall in the St. Louis suburb of Chesterfield, MO, for an undisclosed sum. The acquisition follows TSG’s previous purchase of the Sears building at the mall in April of 2018, and positions the company to control and lead a redevelopment.

“This is the start of Downtown Chesterfield, a high-end, urban, mixed-use development that includes multi-family residential, corporate office, upscale retail and restaurants, a theater, boutique fitness, supermarket and pocket parks,” said TSG VP Tim Lowe. “The entire development will be designed to create a vibrant, suburban city center where residents can live, work and play. Chesterfield is the ideal location is for this type of unique redevelopment.”

As the new owner, TSG plans to work with Macy’s and Dillard’s, the remaining two landowners at the mall, regarding their interest in participating in the proposed development program.

Photo: Mike Kalasnik/Wikipedia.

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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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